Banco Santander S.A. Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Banco Santander S.A. raised its stake in Palantir Technologies by 791.1%, now holding 56,949 shares valued at approximately $4.8 million.
• Various institutional investors increased their positions in Palantir, with hedge funds owning 45.65% of the company’s stock.
• Palantir reported a 39.4% year-over-year increase in revenue, reaching $883.86 million, while earnings per share met analysts' expectations at $0.13.

Banco Santander S.A. raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 791.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,949 shares of the company's stock after purchasing an additional 50,558 shares during the period. Banco Santander S.A.'s holdings in Palantir Technologies were worth $4,806,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Mechanics Financial Corp purchased a new position in Palantir Technologies in the 1st quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its position in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after purchasing an additional 185 shares in the last quarter. Richardson Capital Management LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at $33,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after purchasing an additional 125 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its position in shares of Palantir Technologies by 118.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 413 shares of the company's stock valued at $35,000 after purchasing an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on PLTR. Citigroup lifted their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a research note on Thursday, July 10th. Morgan Stanley boosted their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, UBS Group restated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $96.45.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 33,335 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $150.00, for a total value of $5,000,250.00. Following the completion of the sale, the insider owned 363,755 shares of the company's stock, valued at approximately $54,563,250. This represents a 8.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric H. Woersching sold 10,214 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, the director owned 2,348 shares of the company's stock, valued at approximately $307,470.60. The trade was a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock worth $191,222,623 in the last ninety days. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Trading Down 2.6%

PLTR opened at $154.27 on Friday. The stock has a 50-day moving average price of $140.37 and a 200-day moving average price of $112.27. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $160.89. The stock has a market capitalization of $364.06 billion, a P/E ratio of 670.74, a PEG ratio of 13.15 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. Palantir Technologies's revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. On average, equities research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.

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