Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Fifth Third Bancorp – Defense World
Posted by admin on Jul 9th, 2022 
Fifth Third Bancorp reduced its position in Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 54.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,500 shares of the company’s stock after selling 17,075 shares during the quarter. Fifth Third Bancorp’s holdings in Palantir Technologies were worth $199,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. Norges Bank acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $269,158,000. Bank of Montreal Can increased its stake in shares of Palantir Technologies by 1,623.6% in the 4th quarter. Bank of Montreal Can now owns 10,157,313 shares of the company’s stock worth $189,840,000 after acquiring an additional 9,568,020 shares during the last quarter. BlackRock Inc. increased its stake in shares of Palantir Technologies by 2.7% in the 4th quarter. BlackRock Inc. now owns 84,965,431 shares of the company’s stock worth $1,547,221,000 after acquiring an additional 2,213,503 shares during the last quarter. Sozo Ventures GP I L.P. acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $36,436,000. Finally, Geode Capital Management LLC increased its stake in shares of Palantir Technologies by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 19,873,634 shares of the company’s stock worth $361,379,000 after acquiring an additional 1,741,909 shares during the last quarter. 40.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Palantir Technologies stock opened at $10.17 on Friday. The business has a 50-day moving average of $8.80 and a 200 day moving average of $11.93. Palantir Technologies Inc. has a 12 month low of $6.44 and a 12 month high of $29.29. The stock has a market capitalization of $20.65 billion, a price-to-earnings ratio of -40.68 and a beta of 4.16.
Palantir Technologies (NYSE:PLTR – Get Rating) last announced its earnings results on Monday, May 9th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Palantir Technologies had a negative net margin of 30.25% and a positive return on equity of 12.04%. The firm had revenue of $446.36 million for the quarter, compared to analysts’ expectations of $443.51 million. During the same quarter last year, the business earned $0.04 earnings per share. The business’s revenue was up 30.8% compared to the same quarter last year. Equities research analysts anticipate that Palantir Technologies Inc. will post -0.07 EPS for the current year.
A number of analysts have issued reports on the company. Royal Bank of Canada downgraded Palantir Technologies from a “sector perform” rating to an “underperform” rating and cut their target price for the stock from $12.00 to $6.00 in a research note on Monday, May 9th. Citigroup lowered their price target on Palantir Technologies from $10.00 to $7.00 in a report on Tuesday, May 10th. Piper Sandler increased their price target on Palantir Technologies from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Monness Crespi & Hardt assumed coverage on Palantir Technologies in a report on Monday, April 11th. They set a “buy” rating and a $20.00 price target for the company. Finally, Bank of America assumed coverage on Palantir Technologies in a report on Tuesday, June 21st. They set a “buy” rating and a $13.00 price target for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.27.
In other news, insider Ryan D. Taylor sold 22,666 shares of Palantir Technologies stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $8.03, for a total value of $182,007.98. Following the completion of the transaction, the insider now owns 697,704 shares in the company, valued at approximately $5,602,563.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 77,607 shares of Palantir Technologies stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $10.11, for a total value of $784,606.77. Following the completion of the transaction, the insider now owns 606,526 shares of the company’s stock, valued at approximately $6,131,977.86. The disclosure for this sale can be found here. Insiders have sold a total of 197,382 shares of company stock valued at $1,802,483 over the last 90 days. 13.22% of the stock is currently owned by company insiders.
About Palantir Technologies (Get Rating)
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.
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