Christensen King & Associates Investment Services Inc. Purchases Shares of 5,723 Palantir Technologies Inc. (NYSE:PLTR)

Christensen King & Associates Investment Services Inc. purchased a new stake in Palantir Technologies Inc. (NYSE:PLTR) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 5,723 shares of the company’s stock, valued at approximately $213,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Palantir Technologies by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after purchasing an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC increased its stake in Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after purchasing an additional 277,623 shares during the last quarter. Legal & General Group Plc increased its stake in 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 purchasing an additional 167,030 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its stake in Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on PLTR shares. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Jefferies Financial Group raised their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Northland Securities initiated coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price on the stock. Bank of America raised their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.86.

Palantir Technologies Stock Up 0.7 %

NYSE:PLTR traded up $0.28 during midday trading on Tuesday, reaching $42.98. The stock had a trading volume of 20,145,746 shares, compared to its average volume of 56,774,496. The firm has a fifty day simple moving average of $35.87 and a two-hundred day simple moving average of $28.28. Palantir Technologies Inc. has a 12-month low of $14.48 and a 12-month high of $44.39. The stock has a market cap of $96.25 billion, a P/E ratio of 253.31 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The firm had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter last year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 27.2% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the sale, the director now owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $43.90, for a total value of $321,391.90. Following the completion of the sale, the director now owns 138,304 shares of the company’s stock, valued at approximately $6,071,545.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the sale, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,747,176 shares of company stock valued at $646,951,347. 12.93% of the stock is owned by company insiders.

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.