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

Commerce Bank cut its stake in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 3.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 926,726 shares of the company's stock after selling 34,247 shares during the period. Commerce Bank's holdings in Palantir Technologies were worth $34,474,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. ProShare Advisors LLC bought a new stake in shares of Palantir Technologies in the 1st quarter valued at approximately $262,000. Orion Portfolio Solutions LLC raised its position in Palantir Technologies by 7.2% during the first quarter. Orion Portfolio Solutions LLC now owns 58,715 shares of the company's stock valued at $1,351,000 after purchasing an additional 3,922 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of Palantir Technologies by 29.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 79,854 shares of the company's stock worth $1,837,000 after purchasing an additional 18,170 shares during the period. UniSuper Management Pty Ltd grew its holdings in Palantir Technologies by 95.6% in the first quarter. UniSuper Management Pty Ltd now owns 26,400 shares of the company's stock worth $607,000 after purchasing an additional 12,900 shares during the period. Finally, Crewe Advisors LLC purchased a new stake in shares of Palantir Technologies in the first quarter valued at about $59,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PLTR shares. DA Davidson raised their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Argus downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Wedbush upped their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Jefferies Financial Group downgraded Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a "sell" rating in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus price target of $31.71.

Palantir Technologies Stock Performance

PLTR stock traded down $1.16 during trading on Wednesday, hitting $61.82. 46,635,961 shares of the company's stock traded hands, compared to its average volume of 58,762,859. The business has a fifty day simple moving average of $44.29 and a 200 day simple moving average of $32.64. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $66.00. The stock has a market capitalization of $140.83 billion, a price-to-earnings ratio of 303.87 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR - Get Free Report) 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 firm 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 firm's revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 earnings per share. Research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, 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 value of $429,870.72. Following the completion of the transaction, the insider now owns 576,023 shares in the company, valued at $17,666,625.41. The trade was a 2.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at $232,011,546.06. The trade was a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,551,467 shares of company stock valued at $1,435,420,536. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies 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.