Commerzbank Aktiengesellschaft FI Acquires 7,419 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Commerzbank Aktiengesellschaft FI raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 61.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,490 shares of the company's stock after acquiring an additional 7,419 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Palantir Technologies were worth $1,645,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mechanics Financial Corp purchased a new stake in Palantir Technologies in the 1st quarter worth about $25,000. Cornerstone Planning Group LLC lifted its position in Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after buying an additional 185 shares during the last quarter. Richardson Capital Management LLC bought a new stake in Palantir Technologies in the first quarter valued at approximately $33,000. Atlantic Edge Private Wealth Management LLC lifted its position in 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 during the last quarter. Finally, Godsey & Gibb Inc. increased its stake in shares of Palantir Technologies by 740.0% during the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after buying an additional 370 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $153.99 on Friday. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $155.68. The stock has a market cap of $363.40 billion, a PE ratio of 669.52, a P/E/G ratio of 12.88 and a beta of 2.59. The stock has a 50 day moving average price of $133.61 and a 200 day moving average price of $105.61.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted 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. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the firm earned $0.08 earnings per share. The firm's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares in the company, valued at approximately $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the completion of the transaction, the insider owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,485,632 shares of company stock valued at $191,222,623. Corporate insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PLTR. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $116.00 to $135.00 in a research note on Wednesday. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Morgan Stanley raised their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Daiwa Capital Markets began coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target for the company. Finally, Loop Capital set a $155.00 target price on Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $91.37.

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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