Palantir Technologies Inc. (NASDAQ:PLTR) Position Raised by US Bancorp DE

Key Points

• US Bancorp DE increased its position in Palantir Technologies by 29.4%, owning 422,010 shares valued at approximately $35.6 million after purchasing an additional 95,777 shares in the first quarter.
• Palantir Technologies reported a net profit of $0.13 per share for the last quarter, with revenues reaching $883.86 million, exceeding analysts' expectations by about $20 million.
• Insiders have sold over 1.4 million shares of Palantir's stock in recent months, indicating potential concerns as corporate insiders now hold 9.23% of the company's stock.

US Bancorp DE increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 29.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,010 shares of the company's stock after purchasing an additional 95,777 shares during the period. US Bancorp DE's holdings in Palantir Technologies were worth $35,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. Allegiance Financial Group Advisory Services LLC lifted its position in Palantir Technologies by 3.0% during the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after acquiring an additional 84 shares during the last quarter. Sovran Advisors LLC lifted its position in Palantir Technologies by 1.8% during the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after acquiring an additional 94 shares during the last quarter. Lodestone Wealth Management LLC lifted its position in Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after acquiring an additional 97 shares during the last quarter. Continuum Advisory LLC lifted its position in Palantir Technologies by 3.8% during the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after acquiring an additional 98 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its position in Palantir Technologies by 0.5% during the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Down 2.6%

NASDAQ PLTR opened at $154.27 on Friday. The stock has a market cap of $364.06 billion, a P/E ratio of 670.74, a PEG ratio of 13.15 and a beta of 2.60. The company's 50-day simple moving average is $140.37 and its 200 day simple moving average is $112.27. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $160.89.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts' expectations 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 earned $0.08 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on PLTR. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $116.00 to $135.00 in a research report on Wednesday, July 16th. Loop Capital upped their price objective on shares of Palantir Technologies from $155.00 to $178.00 and gave the company a "buy" rating in a research report on Wednesday. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Finally, Citigroup upped their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of "Hold" and a consensus target price of $96.45.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 3,418 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider directly owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total transaction of $111,688.00. Following the sale, the director directly owned 62,887 shares in the company, valued at $8,779,654.07. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,485,632 shares of company stock valued at $191,222,623. Corporate insiders own 9.23% of the company's stock.

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.

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