Zurcher Kantonalbank Zurich Cantonalbank Purchases 19,458 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 452,762 shares of the company’s stock after acquiring 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 Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PLTR. Truvestments Capital LLC increased its holdings in shares of Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares in the last quarter. Pacifica Partners Inc. bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $27,000. Resurgent Financial Advisors LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $28,000. Provence Wealth Management Group bought a new stake in Palantir Technologies during the third quarter worth $34,000. Finally, Glass Jacobson Investment Advisors llc bought a new stake in Palantir Technologies during the third quarter worth $35,000. Institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PLTR shares. Raymond James upped their price target on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Wedbush reiterated an “outperform” rating and set a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a report on Wednesday, February 14th. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price target for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Finally, Mizuho boosted their price objective on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $20.47 on Friday. Palantir Technologies Inc. has a one year low of $7.28 and a one year high of $27.50. The business’s fifty day moving average price is $23.77 and its 200-day moving average price is $19.89. The stock has a market capitalization of $45.29 billion, a PE ratio of 227.47, a P/E/G ratio of 5.02 and a beta of 2.78.

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

Insider Activity at Palantir Technologies

In related news, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now directly owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now directly owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at $18,819,650. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is owned by company insiders.

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.