Texas Capital Bank Wealth Management Services Inc Decreases Position in Palantir Technologies Inc. $PLTR

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Texas Capital Bank Wealth Management Services Inc decreased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 11.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,631 shares of the company's stock after selling 1,672 shares during the period. Texas Capital Bank Wealth Management Services Inc's holdings in Palantir Technologies were worth $1,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PLTR. Mechanics Financial Corp purchased a new stake in shares of Palantir Technologies in the first quarter worth about $25,000. Richardson Capital Management LLC purchased a new stake in shares of Palantir Technologies in the first quarter worth about $33,000. Cornerstone Planning Group LLC boosted its position in shares of Palantir Technologies by 90.2% in the first quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock worth $33,000 after buying an additional 185 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Palantir Technologies by 45.5% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock worth $34,000 after buying an additional 125 shares during the period. Finally, Godsey & Gibb Inc. boosted its position in shares of Palantir Technologies by 740.0% in the first quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock worth $35,000 after buying an additional 370 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In other news, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total transaction of $1,337,523.30. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the 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 sale, the director owned 62,887 shares in the company, valued at $8,779,654.07. The trade was 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 628,140 shares of company stock worth $84,302,509. Corporate insiders own 12.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PLTR. Loop Capital boosted their price target on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Bank of America boosted their price target on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price target for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Trading Down 1.8%

Shares of Palantir Technologies stock opened at $174.03 on Tuesday. The business's 50 day simple moving average is $151.87 and its 200-day simple moving average is $120.39. The stock has a market capitalization of $412.86 billion, a price-to-earnings ratio of 580.12, a PEG ratio of 9.99 and a beta of 2.60. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00.

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