Kingswood Wealth Advisors LLC Purchases 11,950 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Kingswood Wealth Advisors LLC increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 44.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,131 shares of the company’s stock after purchasing an additional 11,950 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Palantir Technologies were worth $2,959,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. PFG Investments LLC increased its position in shares of Palantir Technologies by 17.0% during the fourth quarter. PFG Investments LLC now owns 101,949 shares of the company’s stock worth $7,710,000 after acquiring an additional 14,830 shares in the last quarter. Drive Wealth Management LLC acquired a new position in Palantir Technologies during the 4th quarter valued at about $262,000. Peak Financial Management Inc. purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $234,000. Requisite Capital Management LLC bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $843,000. Finally, 1834 Investment Advisors Co. purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $326,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $78.98 on Monday. The company has a 50 day moving average of $71.96 and a 200 day moving average of $49.04. The stock has a market cap of $179.92 billion, a P/E ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80.

Palantir Technologies (NASDAQ: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, equities analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the sale, the director now owns 130,250 shares in the company, valued at $6,576,322.50. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the completion of the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,181,807 shares of company stock valued at $1,288,448,522. 12.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on PLTR. Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. DA Davidson increased their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. The Goldman Sachs Group upped 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. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Robert W. Baird began coverage on Palantir Technologies in a report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 target price for the company. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.61.

About Palantir Technologies

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.