King Luther Capital Management Corp Raises Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

King Luther Capital Management Corp lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 39.8% during the 4th quarter, HoldingsChannel reports. The firm owned 27,950 shares of the company’s stock after acquiring an additional 7,950 shares during the quarter. King Luther Capital Management Corp’s holdings in Palantir Technologies were worth $2,114,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Westover Capital Advisors LLC raised its holdings in shares of Palantir Technologies by 1.8% during the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after acquiring an additional 130 shares in the last quarter. Tritonpoint Wealth LLC increased its position in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC raised its stake in Palantir Technologies by 2.2% during the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after purchasing an additional 139 shares in the last quarter. RKL Wealth Management LLC lifted its position in Palantir Technologies by 2.7% during the fourth quarter. RKL Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $430,000 after purchasing an additional 150 shares during the last quarter. Finally, Kennebec Savings Bank grew its stake in shares of Palantir Technologies by 29.5% in the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock worth $53,000 after buying an additional 159 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLTR has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Wedbush reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Northland Securities raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $75.25.

Palantir Technologies Stock Up 7.2 %

Shares of NASDAQ PLTR opened at $83.65 on Thursday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The firm has a market cap of $196.19 billion, a PE ratio of 440.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The business has a fifty day simple moving average of $87.62 and a two-hundred day simple moving average of $64.49.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 416,053 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $43,908.64. This trade represents a 99.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 985,838 shares of company stock worth $75,333,389. Company insiders own 12.93% of the company’s stock.

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.