Commerce Bank Decreases Position in Palantir Technologies Inc. (NYSE:PLTR)

Commerce Bank lessened its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 3.6% during the third quarter, Holdings Channel.com reports. The firm owned 926,726 shares of the company’s stock after selling 34,247 shares during the quarter. Commerce Bank’s holdings in Palantir Technologies were worth $34,474,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. ProShare Advisors LLC bought a new stake in Palantir Technologies in the 1st quarter worth $262,000. Orion Portfolio Solutions LLC grew its holdings in Palantir Technologies by 7.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 58,715 shares of the company’s stock worth $1,351,000 after acquiring an additional 3,922 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Palantir Technologies by 29.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 79,854 shares of the company’s stock worth $1,837,000 after acquiring an additional 18,170 shares during the last quarter. UniSuper Management Pty Ltd grew its holdings in Palantir Technologies by 95.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 26,400 shares of the company’s stock worth $607,000 after acquiring an additional 12,900 shares during the last quarter. Finally, Crewe Advisors LLC bought a new stake in Palantir Technologies in the 1st quarter worth $59,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $62.97 on Wednesday. The stock has a market capitalization of $143.45 billion, a PE ratio of 314.87 and a beta of 2.70. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $66.00. The company has a 50-day simple moving average of $44.29 and a two-hundred day simple moving average of $32.64.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of a number of research reports. Monness Crespi & Hardt cut their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Mizuho lifted their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America lifted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.71.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at $24,352,627.10. The trade was a 6.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Heather A. Planishek sold 14,016 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the transaction, the insider now directly owns 576,023 shares of the company’s stock, valued at $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,551,467 shares of company stock valued at $1,435,420,536. Insiders own 12.93% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.