Commerce Bank Reduces Stake in Palantir Technologies Inc. (NYSE:PLTR)

Commerce Bank lowered its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 820,496 shares of the company’s stock after selling 13,622 shares during the period. Commerce Bank’s holdings in Palantir Technologies were worth $18,880,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares in the last quarter. Morgan Stanley grew its stake in Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after buying an additional 4,675,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after acquiring an additional 1,980,495 shares during the period. ARK Investment Management LLC lifted its position in shares of Palantir Technologies by 16.1% during the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after acquiring an additional 1,514,232 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. grew its position in shares of Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the sale, the director now directly owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares in the company, valued at $1,376,224,376.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 2,398 shares of Palantir Technologies stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total transaction of $51,077.40. Following the transaction, the insider now owns 639,696 shares in the company, valued at approximately $13,625,524.80. The disclosure for this sale can be found here. Insiders have sold 11,372,153 shares of company stock worth $239,941,245 in the last quarter. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 2.1 %

Shares of NYSE:PLTR traded up $0.57 during midday trading on Wednesday, hitting $27.96. 21,371,477 shares of the stock traded hands, compared to its average volume of 55,780,371. The stock has a market capitalization of $62.26 billion, a PE ratio of 229.77, a P/E/G ratio of 6.40 and a beta of 2.71. Palantir Technologies Inc. has a one year low of $13.68 and a one year high of $28.38. The business’s 50 day moving average is $23.28 and its two-hundred day moving average is $21.97.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The company had revenue of $634.34 million during the quarter, compared to analyst estimates of $614.88 million. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on PLTR. Citigroup raised their target price on Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Argus initiated coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a report on Tuesday, May 7th. Royal Bank of Canada upped their price target on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, May 7th. Finally, Wedbush reissued an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research note on Monday, May 6th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.25.

About Palantir Technologies

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