Kirtland Hills Capital Management LLC Raises Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Kirtland Hills Capital Management LLC grew its stake in Palantir Technologies Inc. (NYSE:PLTR) by 128.2% during the 3rd quarter, Holdings Channel reports. The fund owned 27,312 shares of the company’s stock after acquiring an additional 15,344 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Palantir Technologies were worth $1,016,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Summit Securities Group LLC purchased a new position in Palantir Technologies during the second quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies during the second quarter worth about $30,000. Finally, Beacon Capital Management LLC lifted its position in Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Trading Up 2.8 %

Shares of NYSE PLTR opened at $62.97 on Wednesday. The company has a market cap of $143.45 billion, a price-to-earnings ratio of 314.87 and a beta of 2.70. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00. The stock’s 50 day simple moving average is $44.29 and its 200 day simple moving average is $32.64.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Heather A. Planishek sold 14,016 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total transaction of $429,870.72. Following the transaction, the insider now directly owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the transaction, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. The trade was a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,551,467 shares of company stock worth $1,435,420,536 over the last 90 days. 12.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. DA Davidson increased their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Monness Crespi & Hardt lowered their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Finally, Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $31.71.

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.