Kingsview Wealth Management LLC Has $3.85 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Kingsview Wealth Management LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 46.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 50,943 shares of the company’s stock after buying an additional 16,257 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Palantir Technologies were worth $3,853,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Apollon Wealth Management LLC grew its stake in Palantir Technologies by 42.0% in the fourth quarter. Apollon Wealth Management LLC now owns 37,085 shares of the company’s stock valued at $2,805,000 after acquiring an additional 10,966 shares during the period. Almanack Investment Partners LLC. lifted its holdings in shares of Palantir Technologies by 18.7% in the 4th quarter. Almanack Investment Partners LLC. now owns 11,776 shares of the company’s stock worth $891,000 after purchasing an additional 1,858 shares in the last quarter. Mezzasalma Advisors LLC bought a new stake in Palantir Technologies during the 4th quarter valued at $320,000. Vest Financial LLC acquired a new position in Palantir Technologies during the fourth quarter worth $913,000. Finally, Clientfirst Wealth Management LLC acquired a new position in Palantir Technologies during the fourth quarter worth $446,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PLTR shares. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Citigroup lifted their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. DA Davidson raised their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Northland Securities upped their target price on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $110.85 on Monday. The firm has a market capitalization of $252.52 billion, a price-to-earnings ratio of 583.45, a P/E/G ratio of 11.44 and a beta of 2.81. The stock has a fifty day moving average of $77.34 and a 200 day moving average of $53.42. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $116.30.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 1,823,602 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $406,004,124.96. This represents a 22.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the sale, the director now owns 111,644 shares of the company’s stock, valued at $7,454,469.88. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,656,687 shares of company stock valued at $1,040,105,687. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.