Commerzbank Aktiengesellschaft FI Buys 36,316 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Commerzbank Aktiengesellschaft FI boosted its Palantir stake by 187% in the first quarter, buying 36,316 additional shares and bringing its total holdings to 55,741 shares worth about $8.15 million.
• Palantir shares were up 1.9% to $134.85, with the company sporting a market cap of $323.28 billion and trading near a high valuation multiple compared with earnings.
• Palantir recently reported better-than-expected earnings and revenue, with quarterly EPS of $0.33 versus $0.28 expected and revenue of $1.63 billion, while analysts’ consensus view remains a Moderate Buy with an average price target of $190.85.

Commerzbank Aktiengesellschaft FI grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 187.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 55,741 shares of the company's stock after buying an additional 36,316 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Palantir Technologies were worth $8,154,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Basepoint Wealth LLC bought a new position in Palantir Technologies during the fourth quarter valued at about $29,000. Morton Brown Family Wealth LLC lifted its position in shares of Palantir Technologies by 250.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after acquiring an additional 125 shares during the period. Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $31,000. Clayton Financial Group LLC grew its holdings in shares of Palantir Technologies by 500.0% during the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Finally, Wexford Capital LP bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $36,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Up 1.9%

Shares of PLTR opened at $134.85 on Tuesday. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52. The stock has a 50 day simple moving average of $132.16 and a 200-day simple moving average of $143.69. The stock has a market cap of $323.28 billion, a PE ratio of 151.52, a PEG ratio of 2.12 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.Palantir Technologies's revenue was up 84.7% on a year-over-year basis. During the same quarter last year, the company earned $0.13 EPS. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PLTR. Cantor Fitzgerald restated a "neutral" rating and issued a $138.00 target price on shares of Palantir Technologies in a research note on Friday, May 22nd. Citigroup lifted their price target on shares of Palantir Technologies from $210.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Oppenheimer began coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They issued an "outperform" rating and a $200.00 price target on the stock. BTIG Research cut shares of Palantir Technologies to a "neutral" rating in a research note on Tuesday, June 16th. Finally, President Capital raised shares of Palantir Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $25.50 to $133.00 in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies has an average rating of "Moderate Buy" and an average price target of $190.85.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 17,128 shares of Palantir Technologies stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the completion of the transaction, the insider directly owned 375,242 shares of the company's stock, valued at approximately $51,047,921.68. This trade represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the completion of the sale, the insider owned 592 shares in the company, valued at $80,535.68. This represents a 99.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 1,112,270 shares of company stock valued at $150,247,785. 9.53% of the stock is owned by company insiders.

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Several articles argue Palantir’s long-term growth case remains intact, pointing to its expanding AI software footprint and the strength of its AIP platform. Palantir: The Stock Is Richly Valued With a Forward P/S Multiple of Over 40x, but Is the Growth Story Still Worth Buying Into?
• Positive Sentiment: Commentary from top investors and market watchers says Palantir’s business momentum and product expansion could support further gains despite the stock’s premium valuation. It’s Not Crazy, Says Top Investor About Palantir Stock
• Positive Sentiment: Another piece says Palantir keeps defying skeptics with a string of earnings beats and a raised outlook, reinforcing the idea that fundamentals are still improving. Predicition: Palantir Defies Doubters. Here’s Our New Price Target
• Neutral Sentiment: Palantir is also being widely searched and discussed, which shows elevated investor interest but does not by itself change the outlook.
• Neutral Sentiment: Several articles revisit the stock’s big run from its IPO and its recent pullback, keeping focus on valuation and volatility rather than any new company-specific catalyst.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

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