Cullen Frost Bankers Inc. Purchases 15,889 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Cullen Frost Bankers Inc. increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 936.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,585 shares of the company's stock after acquiring an additional 15,889 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Palantir Technologies were worth $1,484,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Palantir Technologies in the fourth quarter worth $1,360,191,000. Geode Capital Management LLC grew its stake in Palantir Technologies by 8.6% during the 4th 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 last quarter. Wellington Management Group LLP raised its holdings in 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 purchasing an additional 3,907,022 shares during the last quarter. Invesco Ltd. boosted its holdings in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors bought a new stake in Palantir Technologies in the fourth quarter valued at about $253,816,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $153.99 on Friday. The company's 50-day moving average is $133.61 and its 200 day moving average is $105.61. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $155.68. The firm has a market capitalization of $363.40 billion, a P/E ratio of 669.52, a price-to-earnings-growth ratio of 12.88 and a beta of 2.59.

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, meeting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the transaction, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eric H. Woersching sold 10,214 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the transaction, the director directly owned 2,348 shares in the company, valued at approximately $307,470.60. This represents a 81.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,485,632 shares of company stock valued at $191,222,623 in the last 90 days. 9.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on PLTR. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Wedbush set a $160.00 price objective on shares of Palantir Technologies in a research report on Thursday, July 10th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Cantor Fitzgerald lifted their target price on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research report on Wednesday, June 25th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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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