KBC Group NV Purchases 280,627 Shares of Palantir Technologies Inc. (NYSE:PLTR)

KBC Group NV lifted its position in Palantir Technologies Inc. (NYSE:PLTR) by 118.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 517,118 shares of the company’s stock after buying an additional 280,627 shares during the period. KBC Group NV’s holdings in Palantir Technologies were worth $19,237,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after acquiring an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after purchasing an additional 808,444 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after buying an additional 277,623 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock valued at $301,871,000 after buying an additional 167,030 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Palantir Technologies by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock worth $185,575,000 after buying an additional 292,885 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Mizuho lifted their price target on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Monness Crespi & Hardt dropped their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Northland Securities increased their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.71.

Palantir Technologies Stock Performance

Shares of PLTR opened at $65.81 on Friday. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $66.00. The stock’s 50-day simple moving average is $43.19 and its 200 day simple moving average is $31.94. The stock has a market capitalization of $147.38 billion, a price-to-earnings ratio of 329.07 and a beta of 2.70.

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, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The business’s quarterly revenue was up 30.0% on a year-over-year basis. On average, research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 11,373 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $32.25, for a total transaction of $366,779.25. Following the transaction, the insider now owns 600,633 shares in the company, valued at $19,370,414.25. The trade was a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. This trade represents a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,562,840 shares of company stock valued at $1,435,787,316 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Company Profile

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.