Cullen Frost Bankers Inc. Decreases Stock Position in Palantir Technologies Inc. $PLTR

Cullen Frost Bankers Inc. cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 89.6% in the second quarter, HoldingsChannel reports. The firm owned 1,821 shares of the company’s stock after selling 15,764 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Palantir Technologies were worth $248,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Ignite Planners LLC increased its position in Palantir Technologies by 0.4% during the 2nd quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after purchasing an additional 66 shares during the period. Christensen King & Associates Investment Services Inc. increased its position in Palantir Technologies by 1.3% during the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock worth $747,000 after purchasing an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. increased its position in Palantir Technologies by 1.0% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock worth $1,007,000 after purchasing an additional 73 shares during the period. Boomfish Wealth Group LLC increased its position in Palantir Technologies by 2.7% during the 2nd quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock worth $379,000 after purchasing an additional 73 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of Palantir Technologies by 3.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company’s stock worth $329,000 after acquiring an additional 80 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $186.39, for a total value of $149,112.00. Following the sale, the director owned 62,087 shares of the company’s stock, valued at approximately $11,572,395.93. This represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the sale, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,557,750 shares of company stock worth $239,713,896 in the last quarter. Insiders own 9.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PLTR. DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Palantir Technologies in a research note on Wednesday, October 8th. Royal Bank Of Canada boosted their price target on Palantir Technologies from $40.00 to $45.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 5th. Bank of America boosted their price target on Palantir Technologies from $180.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, Wedbush set a $200.00 price target on Palantir Technologies and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $141.28.

Palantir Technologies Stock Performance

PLTR stock opened at $184.63 on Friday. Palantir Technologies Inc. has a 1 year low of $40.90 and a 1 year high of $190.00. The stock’s 50 day moving average price is $171.35 and its 200 day moving average price is $146.34. The firm has a market cap of $438.01 billion, a P/E ratio of 615.45, a PEG ratio of 9.78 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm 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 company earned $0.09 EPS. Palantir Technologies’s 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. On average, research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies Company Profile

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.