PNC Financial Services Group Inc. Purchases 5,759 Shares of Palantir Technologies Inc. (NYSE:PLTR)

PNC Financial Services Group Inc. grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,069 shares of the company’s stock after acquiring an additional 5,759 shares during the period. PNC Financial Services Group Inc.’s holdings in Palantir Technologies were worth $980,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pursue Wealth Partners LLC bought a new position in Palantir Technologies in the fourth quarter worth about $1,741,000. Vanguard Group Inc. raised its stake in Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after buying an additional 6,466,596 shares in the last quarter. Trexquant Investment LP bought a new position in Palantir Technologies in the third quarter worth about $4,446,000. Raymond James Financial Services Advisors Inc. raised its stake in Palantir Technologies by 10.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after buying an additional 116,220 shares in the last quarter. Finally, Udine Wealth Management Inc. bought a new position in Palantir Technologies in the fourth quarter worth about $1,612,000. 45.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLTR. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a research note on Friday. Citigroup increased their price target on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Bank of America upped their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday, May 7th. Finally, HSBC upped their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.25.

Palantir Technologies Stock Down 6.7 %

NYSE:PLTR opened at $23.84 on Monday. Palantir Technologies Inc. has a 52 week low of $13.56 and a 52 week high of $27.50. The stock has a market cap of $53.09 billion, a price-to-earnings ratio of 198.68, a PEG ratio of 5.90 and a beta of 2.70. The company’s 50 day moving average price is $22.29 and its 200-day moving average price is $21.26.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The firm had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 2,398 shares of Palantir Technologies stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the sale, the insider now owns 639,696 shares of the company’s stock, valued at $13,625,524.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction on Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the transaction, the director now directly owns 186,783 shares in the company, valued at $4,247,445.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather A. Planishek sold 2,398 shares of Palantir Technologies stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the transaction, the insider now owns 639,696 shares in the company, valued at $13,625,524.80. The disclosure for this sale can be found here. Insiders sold 11,374,153 shares of company stock valued at $239,976,945 over the last 90 days. Company 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.