Comerica Bank Has $30.19 Million Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Comerica Bank cut its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 399,145 shares of the company's stock after selling 73,663 shares during the period. Comerica Bank's holdings in Palantir Technologies were worth $30,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Norges Bank bought a new position in Palantir Technologies during the 4th quarter worth about $1,360,191,000. Geode Capital Management LLC boosted its position in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the period. Wellington Management Group LLP grew its holdings in shares of Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. raised its position in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors bought a new stake in Palantir Technologies in the 4th quarter valued at approximately $253,816,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 2.0 %

Palantir Technologies stock opened at $118.44 on Thursday. Palantir Technologies Inc. has a 12 month low of $20.50 and a 12 month high of $125.41. The company has a market capitalization of $277.78 billion, a price-to-earnings ratio of 623.40, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The business's fifty day simple moving average is $89.93 and its two-hundred day simple moving average is $78.39.

Analyst Upgrades and Downgrades

PLTR has been the topic of several analyst reports. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Morgan Stanley cut their price objective on Palantir Technologies from $95.00 to $90.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Wedbush restated an "outperform" rating and set a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Jefferies Financial Group increased their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Finally, William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $74.71.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the transaction, the insider now directly owns 403,171 shares in the company, valued at approximately $33,382,558.80. This trade represents a 19.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,989,975 shares of company stock valued at $253,328,090. 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.

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