Kercheville Advisors LLC Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Kercheville Advisors LLC acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 26,935 shares of the company’s stock, valued at approximately $2,037,000. Palantir Technologies accounts for approximately 0.8% of Kercheville Advisors LLC’s investment portfolio, making the stock its 27th largest position.

Several other institutional investors have also recently added to or reduced their stakes in PLTR. NovaPoint Capital LLC increased its stake in Palantir Technologies by 30.3% during the fourth quarter. NovaPoint Capital LLC now owns 9,106 shares of the company’s stock worth $689,000 after purchasing an additional 2,120 shares during the period. Trilogy Capital Inc. acquired a new position in Palantir Technologies during the 4th quarter worth $330,000. Benchmark Financial Wealth Advisors LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth about $275,000. Inman Jager Wealth Management LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $913,000. Finally, Choreo LLC increased its stake in shares of Palantir Technologies by 12.0% during the fourth quarter. Choreo LLC now owns 54,606 shares of the company’s stock worth $4,193,000 after buying an additional 5,863 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Down 2.4 %

Shares of PLTR stock opened at $101.36 on Thursday. The stock has a market cap of $230.90 billion, a P/E ratio of 506.83, a P/E/G ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $106.91. The business has a fifty day simple moving average of $75.56 and a 200-day simple moving average of $52.26.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results 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 return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the business posted $0.03 earnings per share. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In other news, insider Alexander C. Karp sold 1,823,602 shares of Palantir Technologies stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total value of $115,105,758.24. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $406,004,124.96. The trade was a 22.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,653,753 shares of company stock valued at $1,039,407,675 in the last 90 days. 12.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PLTR. Jefferies Financial Group lifted their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Cantor Fitzgerald upped their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $95.00 in a report on Tuesday. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies 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.