M&T Bank Corp Increases Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

M&T Bank Corp lifted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 91.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 147,414 shares of the company’s stock after buying an additional 70,589 shares during the quarter. M&T Bank Corp’s holdings in Palantir Technologies were worth $2,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Truvestments Capital LLC raised its position in Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after buying an additional 700 shares during the last quarter. Pacifica Partners Inc. acquired a new stake in Palantir Technologies in the fourth quarter valued at about $27,000. GAMMA Investing LLC purchased a new stake in Palantir Technologies in the 4th quarter valued at approximately $33,000. Provence Wealth Management Group acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $34,000. Finally, Glass Jacobson Investment Advisors llc purchased a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $35,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the sale, the director now owns 1,595,519 shares in the company, valued at $35,133,328.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of Palantir Technologies stock in a transaction on Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the sale, the director now directly owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,206,273 shares of company stock valued at $178,543,602. 13.96% of the stock is owned by insiders.

Palantir Technologies Stock Performance

PLTR stock opened at $21.56 on Thursday. The stock’s 50 day moving average price is $23.34 and its 200 day moving average price is $20.35. The firm has a market cap of $47.71 billion, a P/E ratio of 239.58, a PEG ratio of 5.72 and a beta of 2.76. Palantir Technologies Inc. has a 1 year low of $8.65 and a 1 year high of $27.50.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLTR shares. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Bank of America upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday. Raymond James upped their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada lifted their price target on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $20.65.

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.