PNC Financial Services Group Inc. Acquires 45,505 Shares of Palantir Technologies Inc. (NYSE:PLTR)

PNC Financial Services Group Inc. grew its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 73.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,455 shares of the company’s stock after acquiring an additional 45,505 shares during the period. PNC Financial Services Group Inc.’s holdings in Palantir Technologies were worth $3,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies during the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at $30,000. Finally, Beacon Capital Management LLC lifted its stake in shares of Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after buying an additional 1,105 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 14,016 shares of the 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 completion of the sale, the insider now owns 576,023 shares of the company’s stock, valued at $17,666,625.41. This represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the sale, the director now directly owns 1,510,630 shares of the company’s stock, valued at $46,663,360.70. The trade was a 1.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,167,451 shares of company stock worth $1,603,067,889. Insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Up 4.9 %

Shares of NYSE PLTR opened at $64.35 on Monday. The firm’s 50-day moving average price is $45.94 and its 200-day moving average price is $33.48. The stock has a market capitalization of $146.59 billion, a price-to-earnings ratio of 321.77 and a beta of 2.70. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $66.00.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $725.52 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.03 EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Wedbush boosted their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Citigroup boosted their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.71.

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.