Kingsview Wealth Management LLC Grows Stock Position in Palantir Technologies Inc. $PLTR

Kingsview Wealth Management LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 24.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,346 shares of the company’s stock after buying an additional 15,429 shares during the period. Kingsview Wealth Management LLC’s holdings in Palantir Technologies were worth $14,104,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $450,000. Bison Wealth LLC grew its stake in shares of Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after purchasing an additional 4,667 shares during the last quarter. Capstone Wealth Management Group LLC grew its stake in shares of Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock worth $1,447,000 after purchasing an additional 4,722 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in shares of Palantir Technologies by 36.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company’s stock worth $858,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Vivaldi Capital Management LP bought a new stake in shares of Palantir Technologies in the second quarter worth about $315,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity

In other news, insider David A. Glazer sold 17,128 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the completion of the transaction, the insider directly owned 375,242 shares in the company, valued at approximately $51,047,921.68. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the transaction, the insider owned 642,786 shares of the company’s stock, valued at $87,444,607.44. The trade was a 20.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 922,524 shares of company stock valued at $125,501,302. 9.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Argus raised Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Wednesday, May 6th. Mizuho cut their target price on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of Palantir Technologies in a research note on Thursday, May 21st. Northland Securities raised Palantir Technologies from a “market perform” rating to an “outperform” rating and set a $190.00 target price on the stock in a research note on Tuesday, February 3rd. Finally, Weiss Ratings cut Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.76.

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Several articles highlighted Palantir’s strong AI momentum and enterprise adoption, arguing the recent pullback could be a buying opportunity as demand for its AI Platform remains strong. Palantir Stock Is Down 34% from Its Highs. Don’t Miss This Chance to Buy the Dip.
• Positive Sentiment: Analyst-style coverage also noted Palantir’s growing government and enterprise traction, with some comparisons favoring PLTR over other AI-first software names. Palantir vs. UiPath: Which AI-First Software Stock is a Buy?
• Positive Sentiment: Some coverage said Palantir is still not showing enough evidence for a bearish case, implying the selloff may be overdone relative to the company’s operating performance. Palantir: Still Not Enough Evidence For A Sell Case Here

Palantir Technologies Stock Performance

PLTR stock opened at $132.51 on Thursday. The firm has a 50 day moving average price of $141.86 and a 200-day moving average price of $156.37. Palantir Technologies Inc. has a 52-week low of $118.93 and a 52-week high of $207.52. The firm has a market capitalization of $317.67 billion, a price-to-earnings ratio of 148.89, a PEG ratio of 2.17 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business earned $0.13 earnings per share. The business’s revenue was up 84.7% on a year-over-year basis. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Palantir Technologies Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.