Citizens Business Bank Raises Stock Position in Palantir Technologies Inc. $PLTR

Citizens Business Bank grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,871 shares of the company’s stock after buying an additional 4,026 shares during the quarter. Palantir Technologies makes up 3.7% of Citizens Business Bank’s portfolio, making the stock its 4th largest position. Citizens Business Bank’s holdings in Palantir Technologies were worth $18,931,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Kingstone Capital Partners Texas LLC bought a new stake in Palantir Technologies during the 2nd quarter worth about $2,543,888,000. Nuveen LLC bought a new stake in Palantir Technologies during the 1st quarter worth about $520,232,000. Price T Rowe Associates Inc. MD lifted its position in Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock worth $1,126,408,000 after buying an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after purchasing an additional 4,221,392 shares during the period. Finally, Amundi raised its holdings in shares of Palantir Technologies by 56.1% in the 1st quarter. Amundi now owns 10,620,301 shares of the company’s stock valued at $887,857,000 after purchasing an additional 3,815,386 shares during the period. 45.65% of the stock is owned by institutional investors.

Insider Activity

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the transaction, the insider owned 307,470 shares in the company, valued at $48,687,874.50. This represents a 10.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 191,720 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the transaction, the insider owned 592 shares in the company, valued at approximately $89,611.04. The trade was a 99.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,557,750 shares of company stock worth $239,713,896. Insiders own 9.23% of the company’s stock.

Analyst Ratings Changes

PLTR has been the topic of a number of research analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Citigroup reaffirmed a “neutral” rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Piper Sandler upped their target price on shares of Palantir Technologies from $182.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday. Bank of America upped their target price on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $141.28.

Palantir Technologies Stock Performance

Shares of PLTR opened at $178.15 on Friday. Palantir Technologies Inc. has a 52 week low of $40.90 and a 52 week high of $190.00. The firm has a market cap of $422.63 billion, a P/E ratio of 593.85, a price-to-earnings-growth ratio of 9.66 and a beta of 2.60. The firm’s 50-day simple moving average is $171.52 and its 200 day simple moving average is $142.87.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter in the prior year, the business earned $0.09 EPS. Palantir Technologies’s quarterly revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

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.