FineMark National Bank & Trust Buys Shares of 8,541 Palantir Technologies Inc. (NYSE:PLTR)

FineMark National Bank & Trust acquired a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,541 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake in shares of Palantir Technologies by 9.7% during the 4th quarter. International Assets Investment Management LLC now owns 168,653 shares of the company’s stock worth $2,896,000 after acquiring an additional 14,952 shares in the last quarter. Truist Financial Corp boosted its holdings in Palantir Technologies by 44.0% during the fourth quarter. Truist Financial Corp now owns 115,520 shares of the company’s stock worth $1,983,000 after purchasing an additional 35,295 shares during the last quarter. Vantage Financial Partners LLC grew its position in Palantir Technologies by 20.2% in the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after purchasing an additional 10,124 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at $734,000. Finally, Axxcess Wealth Management LLC lifted its position in Palantir Technologies by 6.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 12,904 shares of the company’s stock worth $222,000 after buying an additional 824 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PLTR shares. DA Davidson raised their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Monness Crespi & Hardt lowered their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Finally, Northland Securities assumed coverage on shares of Palantir Technologies in a research note on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target for the company. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.00.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $30.35 on Friday. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $33.13. The company has a market capitalization of $67.59 billion, a price-to-earnings ratio of 252.92, a PEG ratio of 5.55 and a beta of 2.72. The company has a 50-day simple moving average of $28.81 and a 200 day simple moving average of $25.08.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company’s revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 EPS. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other news, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the sale, the insider now owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Eric H. Woersching sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $24.24, for a total transaction of $72,720.00. Following the completion of the sale, the director now directly owns 35,843 shares in the company, valued at approximately $868,834.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $29.36, for a total value of $2,642,400.00. Following the completion of the transaction, the insider now owns 298,012 shares in the company, valued at approximately $8,749,632.32. The disclosure for this sale can be found here. Insiders have sold 722,664 shares of company stock worth $22,008,889 in 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.