Zions Bancorporation National Association UT Invests $345,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Zions Bancorporation has invested $345,000 in Palantir Technologies, acquiring 4,093 shares of the stock during the first quarter.
• Palantir Technologies reported earnings of $0.16 per share, exceeding analysts' estimates, with a quarterly revenue of $1 billion—up 48% year-over-year.
• Insider selling has been significant, with two directors selling a total of 415,214 shares, indicating a decrease in their holdings and raising concerns about insider confidence.

Zions Bancorporation National Association UT bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,093 shares of the company's stock, valued at approximately $345,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allegiance Financial Group Advisory Services LLC raised its position in Palantir Technologies by 3.0% in the first 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 period. Sovran Advisors LLC raised its position in Palantir Technologies by 1.8% in the first 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 period. Lodestone Wealth Management LLC raised its position in Palantir Technologies by 1.1% in the first 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 period. Continuum Advisory LLC raised its position in Palantir Technologies by 3.8% in the fourth 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 period. Finally, Kathmere Capital Management LLC raised its position in Palantir Technologies by 0.5% in the first 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 period. Institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, Director Eric H. Woersching sold 10,214 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director directly owned 2,348 shares in the company, valued at $307,470.60. The trade was a 81.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction dated 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 sale, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,515,632 shares of company stock worth $196,472,623. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $186.96 on Monday. The firm's fifty day moving average is $145.64 and its two-hundred day moving average is $116.13. Palantir Technologies Inc. has a 52-week low of $29.10 and a 52-week high of $187.99. The company has a market cap of $441.21 billion, a P/E ratio of 623.22, a P/E/G ratio of 10.54 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its 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. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same period in the previous year, the firm posted $0.09 EPS. The business's quarterly revenue was up 48.0% on a year-over-year basis. As a group, analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLTR. Bank of America increased their price objective on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 5th. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. Finally, Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Two equities 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $136.61.

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.