Swiss National Bank Buys 185,300 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Swiss National Bank lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,934,700 shares of the company's stock after buying an additional 185,300 shares during the period. Swiss National Bank owned about 0.25% of Palantir Technologies worth $500,889,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Northern Trust Corp raised its holdings in shares of Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 4.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after buying an additional 571,544 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Palantir Technologies by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock valued at $1,099,861,000 after buying an additional 187,860 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Palantir Technologies by 3.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,532,241 shares of the company's stock worth $796,553,000 after buying an additional 344,127 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PLTR. Citigroup restated a "neutral" rating and issued a $177.00 target price (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday. Royal Bank Of Canada boosted their price objective on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average target price of $136.61.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their position. 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 309,696 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $39,142,477.44. Following the sale, the insider owned 592 shares of the company's stock, valued at approximately $74,822.88. This trade represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock valued at $196,472,623 over the last 90 days. Insiders own 9.23% of the company's stock.

Palantir Technologies Trading Up 1.5%

Shares of NASDAQ:PLTR opened at $182.20 on Friday. The company has a 50 day moving average of $144.43 and a 200 day moving average of $114.82. The stock has a market cap of $429.98 billion, a P/E ratio of 607.35, a P/E/G ratio of 13.07 and a beta of 2.60. Palantir Technologies Inc. has a 12 month low of $26.69 and a 12 month high of $184.48.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business's quarterly revenue was up 48.0% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

About Palantir Technologies

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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