Commerzbank Aktiengesellschaft FI Invests $284,000 in Palantir Technologies Inc. (NYSE:PLTR)

Commerzbank Aktiengesellschaft FI purchased a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,637 shares of the company’s stock, valued at approximately $284,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in Palantir Technologies in the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies during the second quarter worth $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies in the second quarter valued at about $30,000. Finally, Beacon Capital Management LLC increased its position in Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Lauren Elaina Friedman Stat sold 3,050 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the transaction, the director now directly owns 65,989 shares in the company, valued at approximately $1,744,089.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,747,176 shares of company stock valued at $646,951,347. 12.93% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on PLTR shares. Monness Crespi & Hardt cut their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Northland Securities started coverage on Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price for the company. Royal Bank of Canada restated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Mizuho lifted their target price on Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a report on Thursday, October 17th. Finally, DA Davidson increased their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.86.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $43.56 on Friday. The company has a market cap of $97.54 billion, a price-to-earnings ratio of 256.22 and a beta of 2.72. The firm has a 50-day moving average of $36.35 and a 200-day moving average of $28.52. Palantir Technologies Inc. has a one year low of $14.48 and a one year high of $44.39.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the company posted $0.01 earnings per share. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

About Palantir Technologies

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.