King Luther Capital Management Corp Acquires 7,950 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

King Luther Capital Management Corp increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 39.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,950 shares of the company’s stock after acquiring an additional 7,950 shares during the quarter. King Luther Capital Management Corp’s holdings in Palantir Technologies were worth $2,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Prestige Wealth Management Group LLC increased its stake in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $27,000. First PREMIER Bank bought a new position in Palantir Technologies during the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its stake in 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 buying an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its stake in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PLTR has been the subject of several analyst reports. Bank of America raised their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Loop Capital started coverage on shares of Palantir Technologies in a research note on Thursday, February 20th. They set a “buy” rating and a $141.00 price objective for the company. Royal Bank of Canada upped their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Mizuho raised their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $75.25.

Palantir Technologies Trading Up 7.2 %

Shares of PLTR stock opened at $83.65 on Thursday. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41. The stock has a market cap of $196.19 billion, a P/E ratio of 440.29, a P/E/G ratio of 10.84 and a beta of 2.81. The company has a 50 day simple moving average of $87.62 and a two-hundred day simple moving average of $64.49.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 483,987 shares of Palantir Technologies stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the transaction, the insider now directly owns 170,273 shares of the company’s stock, valued at $12,681,933.04. The trade was a 73.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 985,838 shares of company stock worth $75,333,389 in the last three months. Corporate insiders own 12.93% of the company’s stock.

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.