PNC Financial Services Group Inc. Has $1.84 Million Stake in Palantir Technologies Inc. (NYSE:PLTR)

PNC Financial Services Group Inc. reduced its holdings in Palantir Technologies Inc. (NYSE:PLTRGet Rating) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,788 shares of the company’s stock after selling 3,498 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Palantir Technologies were worth $1,836,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PLTR. BlackRock Inc. raised its stake in shares of Palantir Technologies by 2.7% in the fourth quarter. BlackRock Inc. now owns 84,965,431 shares of the company’s stock worth $1,547,221,000 after acquiring an additional 2,213,503 shares during the last quarter. State Street Corp raised its position in Palantir Technologies by 4.3% in the 4th quarter. State Street Corp now owns 33,369,876 shares of the company’s stock worth $607,665,000 after purchasing an additional 1,377,707 shares during the last quarter. Geode Capital Management LLC raised its position in Palantir Technologies by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 19,873,634 shares of the company’s stock worth $361,379,000 after purchasing an additional 1,741,909 shares during the last quarter. Norges Bank acquired a new position in Palantir Technologies during the 4th quarter worth $269,158,000. Finally, Renaissance Technologies LLC boosted its position in Palantir Technologies by 13.1% in the 4th quarter. Renaissance Technologies LLC now owns 14,656,011 shares of the company’s stock valued at $266,886,000 after buying an additional 1,696,483 shares during the last quarter. 30.80% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Down 1.6 %

PLTR opened at $7.28 on Wednesday. The stock has a market cap of $15.03 billion, a P/E ratio of -27.41 and a beta of 3.89. Palantir Technologies Inc. has a 12 month low of $6.44 and a 12 month high of $29.29. The company has a fifty day simple moving average of $9.48 and a 200 day simple moving average of $10.32.

Palantir Technologies (NYSE:PLTRGet Rating) last posted its earnings results on Monday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $473.00 million during the quarter, compared to analyst estimates of $471.72 million. Palantir Technologies had a negative net margin of 30.90% and a positive return on equity of 0.06%. The firm’s revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 earnings per share. On average, equities research analysts expect that Palantir Technologies Inc. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PLTR shares. Monness Crespi & Hardt lowered Palantir Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, July 22nd. Morgan Stanley lowered their price target on shares of Palantir Technologies from $13.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 9th. The Goldman Sachs Group initiated coverage on shares of Palantir Technologies in a research note on Thursday, June 23rd. They set a “neutral” rating and a $10.00 price target for the company. Bank of America initiated coverage on shares of Palantir Technologies in a research note on Tuesday, June 21st. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Citigroup dropped their target price on shares of Palantir Technologies from $7.00 to $6.00 and set a “sell” rating for the company in a research report on Tuesday, August 9th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.83.

Insider Buying and Selling

In other Palantir Technologies news, insider David A. Glazer sold 26,171 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $8.23, for a total value of $215,387.33. Following the transaction, the insider now owns 1,815,808 shares of the company’s stock, valued at $14,944,099.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider David A. Glazer sold 37,387 shares of Palantir Technologies stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $8.14, for a total value of $304,330.18. Following the sale, the insider now owns 1,874,097 shares of the company’s stock, valued at approximately $15,255,149.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David A. Glazer sold 26,171 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $8.23, for a total value of $215,387.33. Following the transaction, the insider now directly owns 1,815,808 shares of the company’s stock, valued at approximately $14,944,099.84. The disclosure for this sale can be found here. In the last three months, insiders sold 420,171 shares of company stock valued at $4,153,509. 13.22% of the stock is owned by corporate insiders.

Palantir Technologies Profile

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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