M&T Bank Corp Grows Position in Palantir Technologies Inc. $PLTR

M&T Bank Corp increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,386 shares of the company’s stock after purchasing an additional 8,536 shares during the quarter. M&T Bank Corp’s holdings in Palantir Technologies were worth $26,090,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Signature Resources Capital Management LLC acquired a new position in shares of Palantir Technologies in the 2nd quarter worth approximately $25,000. Wealth Preservation Advisors LLC purchased a new stake in Palantir Technologies in the first quarter valued at approximately $27,000. 1248 Management LLC acquired a new position in Palantir Technologies during the first quarter worth $27,000. Briaud Financial Planning Inc purchased a new position in shares of Palantir Technologies during the second quarter worth $27,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in Palantir Technologies in the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 39,136 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $6,115,000.00. Following the transaction, the insider directly owned 592 shares in the company, valued at approximately $92,500. This trade represents a 98.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 19,004 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the completion of the sale, the insider owned 642,786 shares of the company’s stock, valued at approximately $100,435,312.50. This trade represents a 2.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,065,892 shares of company stock valued at $173,869,312. 12.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PLTR shares. Weiss Ratings cut Palantir Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Citigroup boosted their price objective on Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. HSBC raised their target price on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. CICC Research boosted their price target on shares of Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $172.28.

Palantir Technologies Trading Up 1.9%

PLTR stock opened at $170.69 on Wednesday. The company’s 50 day moving average is $179.00 and its two-hundred day moving average is $160.59. The stock has a market cap of $406.83 billion, a P/E ratio of 406.41, a PEG ratio of 6.49 and a beta of 1.49. Palantir Technologies Inc. has a twelve month low of $63.40 and a twelve month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $0.10 earnings per share. Palantir Technologies’s quarterly revenue was up 62.8% compared to the same quarter last year. On average, equities 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.