KBC Group NV Grows Position in Palantir Technologies Inc. (NYSE:PLTR)

KBC Group NV grew its stake in Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 118.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 517,118 shares of the company's stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company's stock valued at $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company's stock valued at $557,365,000 after buying an additional 808,444 shares during the last quarter. ARK Investment Management LLC lifted its holdings 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 worth $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Legal & General Group Plc increased its position in Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company's stock valued at $301,871,000 after acquiring an additional 167,030 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Palantir Technologies by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company's stock valued at $185,575,000 after buying an additional 292,885 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Argus downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Bank of America increased their price objective 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. Mizuho upped their price objective on Palantir Technologies from $30.00 to $37.00 and gave the company an "underperform" rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a "sell" rating in a research report on Tuesday, August 6th. Finally, Northland Capmk raised shares of Palantir Technologies to a "hold" rating in a report on Thursday, August 22nd. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $31.71.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $65.81 on Friday. The firm has a market cap of $147.38 billion, a price-to-earnings ratio of 329.07 and a beta of 2.70. Palantir Technologies Inc. has a one year low of $15.66 and a one year high of $66.00. The stock's fifty day moving average price is $43.19 and its two-hundred day moving average price is $31.94.

Palantir Technologies (NYSE:PLTR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $725.52 million during the quarter, compared to analysts' expectations of $705.11 million. During the same period in the prior year, the company posted $0.03 earnings per share. Palantir Technologies's revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now directly owns 152,280 shares in the company, valued at $5,535,378. This trade represents a 3.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek sold 11,373 shares of the company's stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders sold 31,562,840 shares of company stock worth $1,435,787,316. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies 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.