Fifth Third Bancorp Raises Stake in Palantir Technologies Inc. (NYSE:PLTR)

Fifth Third Bancorp lifted its position in Palantir Technologies Inc. (NYSE:PLTR) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,491 shares of the company’s stock after purchasing an additional 2,805 shares during the period. Fifth Third Bancorp’s holdings in Palantir Technologies were worth $1,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Palantir Technologies by 6.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,967 shares of the company’s stock valued at $789,000 after acquiring an additional 2,604 shares during the period. International Assets Investment Management LLC raised its stake in Palantir Technologies by 9.7% during the 4th quarter. International Assets Investment Management LLC now owns 168,653 shares of the company’s stock valued at $2,896,000 after purchasing an additional 14,952 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Palantir Technologies by 654.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,054 shares of the company’s stock worth $327,000 after purchasing an additional 16,530 shares in the last quarter. Federated Hermes Inc. boosted its stake in Palantir Technologies by 5,559.4% in the 4th quarter. Federated Hermes Inc. now owns 291,970 shares of the company’s stock worth $5,013,000 after purchasing an additional 286,811 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its stake in Palantir Technologies by 28.1% in the 4th quarter. J.W. Cole Advisors Inc. now owns 31,421 shares of the company’s stock worth $539,000 after purchasing an additional 6,883 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insider Activity at Palantir Technologies

In related news, Director Eric H. Woersching sold 26,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $23.32, for a total value of $606,320.00. Following the sale, the director now directly owns 38,843 shares of the company’s stock, valued at approximately $905,818.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Alexander D. Moore sold 20,422 shares of Palantir Technologies stock in a transaction on Monday, June 10th. The stock was sold at an average price of $22.94, for a total transaction of $468,480.68. Following the completion of the sale, the director now directly owns 1,587,707 shares in the company, valued at $36,421,998.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eric H. Woersching sold 26,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $23.32, for a total transaction of $606,320.00. Following the sale, the director now directly owns 38,843 shares of the company’s stock, valued at $905,818.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 653,275 shares of company stock worth $19,583,259. Insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on PLTR shares. DA Davidson boosted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Raymond James raised their price objective on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Citigroup boosted their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Monness Crespi & Hardt dropped their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.14.

Palantir Technologies Stock Performance

NYSE PLTR opened at $32.54 on Thursday. The business’s 50 day moving average price is $27.31 and its 200-day moving average price is $24.47. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $32.75. The company has a market cap of $72.46 billion, a P/E ratio of 271.17, a P/E/G ratio of 5.47 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same period in the previous year, the firm earned $0.01 earnings per share. Palantir Technologies’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.