Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Palantir Technologies Inc. (NYSE:PLTR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 4.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 452,762 shares of the company’s stock after buying an additional 19,458 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Palantir Technologies were worth $7,774,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of PLTR. AlphaCrest Capital Management LLC purchased a new position in Palantir Technologies during the first quarter valued at $206,000. D.A. Davidson & CO. lifted its position in shares of Palantir Technologies by 18.6% in the first quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock valued at $200,000 after acquiring an additional 2,286 shares in the last quarter. MetLife Investment Management LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at about $1,475,000. Cibc World Market Inc. lifted its position in shares of Palantir Technologies by 38.3% in the first quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after acquiring an additional 62,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Palantir Technologies by 71.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock valued at $15,832,000 after acquiring an additional 482,171 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $20.47 on Friday. The business’s 50 day moving average is $23.77 and its two-hundred day moving average is $19.89. Palantir Technologies Inc. has a 1-year low of $7.28 and a 1-year high of $27.50. The stock has a market capitalization of $45.29 billion, a P/E ratio of 227.47, a PEG ratio of 5.02 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The company had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on PLTR shares. Wedbush restated an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Monness Crespi & Hardt downgraded Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective on the stock. in a research report on Thursday, March 28th. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research report on Wednesday, February 14th. Raymond James lifted their target price on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Finally, Bank of America lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.35.

Insider Activity

In other news, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the transaction, the insider now owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the transaction, the insider now owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the completion of the sale, the director now owns 186,783 shares of the company’s stock, valued at approximately $4,247,445.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is currently owned by insiders.

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.