KG&L Capital Management LLC Has $927,000 Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

KG&L Capital Management LLC reduced its position in shares of Palantir Technologies Inc. (NYSE:PLTRGet Rating) by 34.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,552 shares of the company’s stock after selling 35,228 shares during the quarter. KG&L Capital Management LLC’s holdings in Palantir Technologies were worth $927,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Endurance Wealth Management Inc. acquired a new position in Palantir Technologies during the 1st quarter worth approximately $27,000. UMB Bank N A MO acquired a new position in Palantir Technologies during the 4th quarter worth approximately $37,000. TAP Consulting LLC acquired a new position in Palantir Technologies during the 4th quarter worth approximately $38,000. Red Wave Investments LLC raised its stake in shares of Palantir Technologies by 7,194.2% in the fourth quarter. Red Wave Investments LLC now owns 10,139 shares of the company’s stock worth $43,000 after purchasing an additional 10,000 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Palantir Technologies in the fourth quarter worth approximately $46,000. 40.02% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 3.4 %

Shares of NYSE PLTR opened at $9.34 on Wednesday. The stock has a fifty day simple moving average of $8.76 and a two-hundred day simple moving average of $11.42. Palantir Technologies Inc. has a 1-year low of $6.44 and a 1-year high of $29.29. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of -37.36 and a beta of 4.16.

Palantir Technologies (NYSE:PLTRGet Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Palantir Technologies had a negative net margin of 30.25% and a positive return on equity of 12.04%. The firm had revenue of $446.36 million for the quarter, compared to the consensus estimate of $443.51 million. During the same period last year, the company posted $0.04 earnings per share. Palantir Technologies’s revenue for the quarter was up 30.8% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post -0.07 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Alexander D. Moore sold 37,076 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $9.20, for a total value of $341,099.20. Following the completion of the transaction, the director now directly owns 1,923,852 shares of the company’s stock, valued at $17,699,438.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Alexander D. Moore sold 37,076 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $9.20, for a total value of $341,099.20. Following the completion of the transaction, the director now directly owns 1,923,852 shares of the company’s stock, valued at $17,699,438.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan D. Taylor sold 77,607 shares of the firm’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $10.11, for a total value of $784,606.77. Following the completion of the transaction, the insider now directly owns 606,526 shares of the company’s stock, valued at $6,131,977.86. The disclosure for this sale can be found here. Insiders sold 197,382 shares of company stock valued at $1,802,483 over the last three months. Company insiders own 13.22% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of several analyst reports. Royal Bank of Canada downgraded Palantir Technologies from a “sector perform” rating to an “underperform” rating and lowered their price objective for the stock from $12.00 to $6.00 in a research note on Monday, May 9th. The Goldman Sachs Group assumed coverage on Palantir Technologies in a research note on Thursday, June 23rd. They issued a “neutral” rating and a $10.00 price objective for the company. Piper Sandler upped their target price on Palantir Technologies from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, April 22nd. Monness Crespi & Hardt assumed coverage on Palantir Technologies in a report on Monday, April 11th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Citigroup reduced their target price on Palantir Technologies from $10.00 to $7.00 in a report on Tuesday, May 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.27.

About Palantir Technologies

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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