First Citizens Bank & Trust Co. Makes New $4.82 Million Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

First Citizens Bank & Trust Co. bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 57,044 shares of the company's stock, valued at approximately $4,815,000.

Several other institutional investors have also recently bought and sold shares of the business. Tallon Kerry Patrick bought a new position in shares of Palantir Technologies in the 4th quarter valued at $289,000. Union Bancaire Privee UBP SA acquired a new position in Palantir Technologies in the 4th quarter worth about $15,177,000. Revolve Wealth Partners LLC bought a new position in Palantir Technologies in the fourth quarter valued at about $450,000. SOA Wealth Advisors LLC. raised its position in Palantir Technologies by 102.9% in the fourth quarter. SOA Wealth Advisors LLC. now owns 700 shares of the company's stock valued at $53,000 after purchasing an additional 355 shares during the last quarter. Finally, BLB&B Advisors LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $310,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $82.80, for a total transaction of $8,129,055.60. Following the completion of the sale, the insider now directly owns 403,171 shares of the company's stock, valued at approximately $33,382,558.80. The trade was a 19.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the completion of the sale, the insider now directly owns 592 shares of the company's stock, valued at $50,497.60. The trade was a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,661,925 shares of company stock worth $268,580,958. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Trading Up 2.6%

PLTR stock traded up $3.47 during mid-day trading on Wednesday, reaching $136.28. The company's stock had a trading volume of 97,031,035 shares, compared to its average volume of 80,464,506. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $139.16. The business's 50 day moving average price is $113.13 and its 200 day moving average price is $93.63. The company has a market cap of $321.61 billion, a price-to-earnings ratio of 717.31, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million during the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The company's quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent research reports. Royal Bank of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Loop Capital boosted their target price on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Daiwa Capital Markets began coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target for the company. Mizuho lifted their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a report on Wednesday. Finally, Daiwa America upgraded Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average price target of $85.05.

About Palantir Technologies

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.