Zurcher Kantonalbank Zurich Cantonalbank Buys 22,862 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Zurcher Kantonalbank increased its stake in Palantir by 3.1% in Q4, buying 22,862 shares and now holds 764,052 shares valued at about $135.81 million.
• Company insiders have been net sellers, offloading 1,029,879 shares worth $137.7 million in the last 90 days, including CEO Alexander C. Karp's 493,025‑share sale, leaving insiders with 12.93% ownership.
• Palantir beat quarterly expectations with $1.41 billion in revenue (up 70% year‑over‑year) and $0.25 EPS, and analysts maintain a consensus "Moderate Buy" with a $197.32 average target amid a $350.1 billion market cap.

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 764,052 shares of the company's stock after acquiring an additional 22,862 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Palantir Technologies were worth $135,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company's stock valued at $39,017,133,000 after purchasing an additional 8,168,604 shares during the last quarter. State Street Corp grew its stake in Palantir Technologies by 7.2% during the third quarter. State Street Corp now owns 101,258,899 shares of the company's stock worth $18,471,648,000 after buying an additional 6,777,771 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Palantir Technologies by 5.9% during the third quarter. Invesco Ltd. now owns 21,798,785 shares of the company's stock worth $3,976,534,000 after buying an additional 1,213,529 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Palantir Technologies by 3.8% during the third quarter. Northern Trust Corp now owns 21,088,462 shares of the company's stock worth $3,846,957,000 after buying an additional 769,238 shares in the last quarter. Finally, Amundi raised its stake in shares of Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company's stock valued at $2,814,879,000 after acquiring an additional 4,373,201 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 493,025 shares of the firm's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.78, for a total transaction of $65,956,884.50. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at $860,507,475.24. This trade represents a 7.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David A. Glazer sold 17,438 shares of Palantir Technologies stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $2,331,809.36. Following the completion of the sale, the insider directly owned 392,370 shares in the company, valued at $52,467,716.40. This represents a 4.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,029,879 shares of company stock worth $137,746,253 over the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $146.39 on Monday. The firm has a market capitalization of $350.12 billion, a price-to-earnings ratio of 232.37, a PEG ratio of 2.82 and a beta of 1.68. The company's 50 day simple moving average is $143.72 and its 200 day simple moving average is $164.84. Palantir Technologies Inc. has a fifty-two week low of $89.31 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, February 2nd. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The business's quarterly revenue was up 70.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent analyst reports. Piper Sandler reissued an "overweight" rating and issued a $230.00 target price on shares of Palantir Technologies in a report on Tuesday, February 3rd. Rosenblatt Securities reaffirmed a "buy" rating and set a $200.00 price target on shares of Palantir Technologies in a report on Wednesday, March 25th. Wedbush reiterated an "outperform" rating and issued a $230.00 price objective on shares of Palantir Technologies in a research report on Friday, April 10th. Citigroup boosted their price objective on Palantir Technologies from $235.00 to $260.00 and gave the stock a "buy" rating in a research note on Tuesday, February 3rd. Finally, Zacks Research cut Palantir Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $197.32.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

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