M&T Bank Corp Buys 45,965 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

M&T Bank Corp grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 37.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 170,043 shares of the company’s stock after acquiring an additional 45,965 shares during the period. M&T Bank Corp’s holdings in Palantir Technologies were worth $6,326,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Summit Securities Group LLC purchased a new position in Palantir Technologies in the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies during the 2nd quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies in the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies during the second quarter valued at about $30,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 8.5 %

NASDAQ PLTR opened at $80.55 on Monday. The firm has a market cap of $183.49 billion, a price-to-earnings ratio of 402.77, a PEG ratio of 10.18 and a beta of 2.87. The company has a 50-day simple moving average of $59.06 and a two-hundred day simple moving average of $40.39. Palantir Technologies Inc. has a 12-month low of $15.66 and a 12-month high of $80.91.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly 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 business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS. Equities analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Robert W. Baird started coverage on Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective on the stock. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Northland Securities upped their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $41.00.

Insider Buying and Selling

In other Palantir Technologies news, Director Peter Thiel sold 4,254,666 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total value of $156,444,068.82. Following the transaction, the director now owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. The trade was a 7.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,605,711 shares of company stock valued at $1,867,088,271 over the last three months. 12.93% of the stock is owned by company insiders.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.