Kirtland Hills Capital Management LLC Grows Stake in Palantir Technologies Inc. (NYSE:PLTR)

Kirtland Hills Capital Management LLC lifted its stake in Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 128.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,312 shares of the company's stock after purchasing 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 quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its stake in Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company's stock valued at $254,162,000 after buying an additional 6,641,253 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in Palantir Technologies by 248,208.2% during the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company's stock worth $83,418,000 after purchasing an additional 3,623,840 shares during the last quarter. Marshall Wace LLP lifted its stake in Palantir Technologies by 594.3% during the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company's stock worth $89,926,000 after purchasing an additional 3,038,861 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Palantir Technologies by 226.2% in the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company's stock valued at $105,636,000 after purchasing an additional 1,969,213 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in Palantir Technologies by 2,722.2% in the second quarter. National Bank of Canada FI now owns 1,716,830 shares of the company's stock valued at $44,427,000 after purchasing an additional 1,655,997 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research analyst reports. Monness Crespi & Hardt lowered their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a "sell" rating for the company in a report on Tuesday, August 6th. Northland Capmk raised Palantir Technologies to a "hold" rating in a report on Thursday, August 22nd. 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 note on Tuesday, August 6th. Argus downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group cut shares of Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Six equities research 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. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus target price of $31.71.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. This represents a 6.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now directly owns 6,432,258 shares of the company's stock, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,551,467 shares of company stock worth $1,435,420,536 in the last three months. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Stock Down 1.4 %

Shares of NYSE PLTR traded down $0.86 during midday trading on Wednesday, hitting $62.12. The company had a trading volume of 57,849,512 shares, compared to its average volume of 58,787,793. The business has a 50-day simple moving average of $44.29 and a two-hundred day simple moving average of $32.64. Palantir Technologies Inc. has a twelve month low of $15.66 and a twelve month high of $66.00. The firm has a market capitalization of $141.51 billion, a price-to-earnings ratio of 303.87 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts' expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company's revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

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.