Palantir Technologies Inc. $PLTR Shares Bought by Comerica Bank

Key Points

• Comerica Bank has increased its stake in Palantir Technologies by 11.6%, acquiring 46,125 additional shares, bringing its total holdings to 445,270 shares valued at approximately $37.58 million.
• Insider trading activity includes significant sales by two executives, with Stephen Andrew Cohen selling 191,720 shares and Shyam Sankar selling 405,000 shares, leading to substantial decreases in their ownership percentages.
• Analysts are adjusting price targets for Palantir, with a consensus rating of "Hold" and a price target of $136.61, reflecting varying perceptions of the company's future performance.

Comerica Bank raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 11.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 445,270 shares of the company's stock after acquiring an additional 46,125 shares during the quarter. Comerica Bank's holdings in Palantir Technologies were worth $37,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Allegiance Financial Group Advisory Services LLC lifted its holdings in Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after acquiring an additional 84 shares during the last quarter. Sovran Advisors LLC lifted its holdings in Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after acquiring an additional 94 shares during the last quarter. Lodestone Wealth Management LLC lifted its holdings in Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after acquiring an additional 97 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after acquiring an additional 98 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its stake in Palantir Technologies by 0.5% during the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock valued at $1,531,000 after buying an additional 99 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider owned 592 shares in the company, valued at approximately $89,611.04. This represents a 99.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $53,492,400.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,906,783 shares of company stock worth $282,471,442. Corporate insiders own 12.93% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group reaffirmed a "neutral" rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Wall Street Zen raised shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. 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 note on Wednesday, July 16th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada increased their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $136.61.

Palantir Technologies Stock Up 1.6%

PLTR stock opened at $158.74 on Monday. Palantir Technologies Inc. has a 12-month low of $29.31 and a 12-month high of $190.00. The company has a market cap of $376.59 billion, a price-to-earnings ratio of 529.15, a PEG ratio of 8.95 and a beta of 2.60. The company has a 50 day moving average of $153.61 and a two-hundred day moving average of $121.98.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The firm's revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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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