Kingsview Wealth Management LLC Reduces Stake in Palantir Technologies Inc. (NYSE:PLTR)

Kingsview Wealth Management LLC lessened its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 19.2% in the third quarter, Holdings Channel reports. The fund owned 34,686 shares of the company’s stock after selling 8,265 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Palantir Technologies were worth $1,290,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares during the last quarter. Tyler Stone Wealth Management grew its position in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after acquiring an additional 99,921 shares during the period. Finally, Heritage Wealth Management Inc. CA purchased a new stake in shares of Palantir Technologies in the 3rd quarter worth $1,076,000. Institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PLTR shares. Bank of America lifted their target price on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday. Citigroup boosted their price objective on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. DA Davidson upped their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.64.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 1,007,496 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at $411,407,221.68. This trade represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Thiel sold 4,254,666 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the completion of the sale, the director now owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. This trade represents a 7.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,167,451 shares of company stock valued at $1,603,067,889. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Stock Up 1.7 %

PLTR opened at $65.74 on Wednesday. The company has a market capitalization of $149.76 billion, a PE ratio of 328.72 and a beta of 2.70. The firm has a 50-day simple moving average of $47.09 and a two-hundred day simple moving average of $34.10. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $67.88.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the business posted $0.03 EPS. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.