Fifth Third Bancorp Lowers Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Fifth Third Bancorp reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 33.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 67,114 shares of the company’s stock after selling 34,038 shares during the period. Fifth Third Bancorp’s holdings in Palantir Technologies were worth $5,076,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PLTR. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at $28,000. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the period. Financial Management Professionals Inc. lifted its position in shares of Palantir Technologies by 171.5% during the fourth quarter. Financial Management Professionals Inc. now owns 543 shares of the company’s stock worth $41,000 after purchasing an additional 343 shares in the last quarter. Trivant Custom Portfolio Group LLC boosted its stake in shares of Palantir Technologies by 313.3% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company’s stock valued at $47,000 after purchasing an additional 470 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the third quarter valued at approximately $25,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the sale, the insider now owns 562,006 shares in the company, valued at approximately $28,077,819.76. This trade represents a 3.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PLTR shares. UBS Group assumed coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target for the company. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Mizuho raised their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $44.61.

Palantir Technologies Stock Performance

Shares of PLTR opened at $78.98 on Monday. The company’s 50 day simple moving average is $71.96 and its 200-day simple moving average is $49.04. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80. The firm has a market cap of $179.92 billion, a PE ratio of 394.92, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the prior year, the company earned $0.03 earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal 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.