Palantir Technologies Inc. (NASDAQ:PLTR) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 19.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,096 shares of the company's stock after purchasing an additional 12,982 shares during the quarter. Fifth Third Bancorp's holdings in Palantir Technologies were worth $6,760,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Simon Quick Advisors LLC raised its holdings in Palantir Technologies by 36.6% in the first quarter. Simon Quick Advisors LLC now owns 15,024 shares of the company's stock worth $1,268,000 after purchasing an additional 4,025 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Palantir Technologies by 11.4% during the first quarter. Capital Advisors Ltd. LLC now owns 2,381 shares of the company's stock valued at $201,000 after acquiring an additional 243 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. increased its holdings in shares of Palantir Technologies by 5.8% during the first quarter. Murphy Middleton Hinkle & Parker Inc. now owns 3,905 shares of the company's stock valued at $330,000 after acquiring an additional 215 shares in the last quarter. Capital Advisory Group Advisory Services LLC acquired a new position in shares of Palantir Technologies during the first quarter valued at about $246,000. Finally, Focus Financial Network Inc. increased its holdings in shares of Palantir Technologies by 5.6% during the first quarter. Focus Financial Network Inc. now owns 9,289 shares of the company's stock valued at $784,000 after acquiring an additional 496 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now owns 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the transaction, the insider now directly owns 592 shares of the company's stock, valued at $51,545.44. The trade was a 99.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,816,925 shares of company stock worth $215,448,358. Insiders own 9.23% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PLTR shares. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price objective on the stock. Loop Capital upped their price objective on shares of Palantir Technologies from $130.00 to $155.00 and gave the company a "buy" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. UBS Group upped their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Daiwa America upgraded Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $86.30.

Palantir Technologies Trading Up 1.6%

Palantir Technologies stock traded up $2.21 during mid-day trading on Friday, hitting $137.40. The company had a trading volume of 93,318,005 shares, compared to its average volume of 81,017,198. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $140.00. The company's fifty day moving average is $115.48 and its 200-day moving average is $94.81. The company has a market capitalization of $324.25 billion, a price-to-earnings ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64.

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

Palantir Technologies Company 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.