King Wealth Management Group Buys New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

King Wealth Management Group purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 30,703 shares of the company's stock, valued at approximately $2,322,000.

Other large investors have also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC grew its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock valued at $27,000 after buying an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its stake in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the period. Finally, HighMark Wealth Management LLC lifted its position in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $79.62 on Friday. The firm has a market capitalization of $186.74 billion, a PE ratio of 419.07, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The company has a 50-day simple moving average of $87.71 and a 200-day simple moving average of $64.59.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLTR. Loop Capital lowered their price target on shares of Palantir Technologies from $141.00 to $125.00 and set a "buy" rating for the company in a report on Thursday. Bank of America raised their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Wedbush reiterated an "outperform" rating and issued a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. Morgan Stanley upgraded Palantir Technologies from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Finally, DA Davidson lifted their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Five investment 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 stock presently has an average rating of "Hold" and an average target price of $74.45.

Remove Ads

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the company's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares of the company's stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 569,785 shares of company stock worth $44,474,738 over the last ninety days. Company insiders own 12.93% of the company's stock.

Palantir Technologies Company 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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.