Citizens Business Bank Sells 1,403 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Citizens Business Bank reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,487 shares of the company’s stock after selling 1,403 shares during the period. Palantir Technologies accounts for about 1.9% of Citizens Business Bank’s investment portfolio, making the stock its 12th biggest position. Citizens Business Bank’s holdings in Palantir Technologies were worth $10,171,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $27,000. First PREMIER Bank bought a new stake in Palantir Technologies during the 4th quarter valued at $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. HighMark Wealth Management LLC boosted its position in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC acquired a new stake in Palantir Technologies in the 4th quarter worth approximately $31,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $110.43 on Thursday. Palantir Technologies Inc. has a 1 year low of $20.50 and a 1 year high of $125.41. The company has a market capitalization of $259.00 billion, a P/E ratio of 581.24, a P/E/G ratio of 10.84 and a beta of 2.68. The company has a 50 day simple moving average of $92.85 and a 200-day simple moving average of $80.95.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same period in the prior year, the business posted $0.08 EPS. The company’s revenue was up 39.4% compared to the same quarter last year. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares of the company’s stock, valued at approximately $33,382,558.80. This represents a 19.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at approximately $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,978,181 shares of company stock valued at $252,115,667. 12.93% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PLTR shares. Northland Securities upped their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Mizuho increased their price objective on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an “underperform” rating in a research note on Tuesday. Royal Bank of Canada restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday. William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Finally, Wedbush set a $140.00 target price on Palantir Technologies and gave the stock an “outperform” rating in a report on Tuesday. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $83.70.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.