L.M. Kohn & Company Invests $550,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

L.M. Kohn & Company purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,277 shares of the company's stock, valued at approximately $550,000.

Several other hedge funds have also recently modified their holdings of the business. Tritonpoint Wealth LLC raised its holdings in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock worth $537,000 after purchasing an additional 132 shares in the last quarter. Kennebec Savings Bank raised its stake in shares of Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company's stock worth $53,000 after acquiring an additional 159 shares in the last quarter. RMR Wealth Builders lifted its position in Palantir Technologies by 2.4% during the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company's stock valued at $545,000 after acquiring an additional 167 shares during the last quarter. Bay Rivers Group boosted its stake in Palantir Technologies by 2.7% in the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company's stock valued at $484,000 after acquiring an additional 171 shares in the last quarter. Finally, Christensen King & Associates Investment Services Inc. grew its holdings in Palantir Technologies by 3.0% in the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company's stock worth $486,000 after purchasing an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

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Insider Activity

In other news, insider Heather A. Planishek sold 13,891 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now owns 62,139 shares of the company's stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,301,387 shares of company stock valued at $575,821,045 in the last three months. 12.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLTR. Bank of America raised their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Mizuho raised their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. DA Davidson lifted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Finally, Argus lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $69.44.

Palantir Technologies Price Performance

PLTR stock traded down $12.56 during trading on Wednesday, hitting $112.06. 142,280,695 shares of the company traded hands, compared to its average volume of 84,784,539. Palantir Technologies Inc. has a 1 year low of $20.33 and a 1 year high of $125.41. The company has a market cap of $255.27 billion, a PE ratio of 589.82, a P/E/G ratio of 12.25 and a beta of 2.81. The stock's 50-day simple moving average is $84.70 and its 200 day simple moving average is $58.51.

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.