Comerica Bank Trims Stake in Palantir Technologies Inc. (NYSE:PLTR)

Comerica Bank lessened its stake in Palantir Technologies Inc. (NYSE:PLTR) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,379 shares of the company’s stock after selling 1,439 shares during the period. Comerica Bank’s holdings in Palantir Technologies were worth $1,827,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PLTR. Vanguard Group Inc. increased its position in Palantir Technologies by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after acquiring an additional 18,756,392 shares during the period. Morgan Stanley increased its position in Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after purchasing an additional 4,675,824 shares during the period. KEYWISE CAPITAL MANAGEMENT HK Ltd increased its position in Palantir Technologies by 314.7% during the 3rd quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock worth $84,571,000 after purchasing an additional 4,011,100 shares during the period. Quadrature Capital Ltd acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $55,719,000. Finally, International Assets Investment Management LLC increased its position in Palantir Technologies by 1,784.0% during the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock worth $49,720,000 after purchasing an additional 2,742,071 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 2,398 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total value of $51,077.40. Following the sale, the insider now owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Palantir Technologies news, insider Heather A. Planishek sold 2,398 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the transaction, the insider now owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek sold 10,907 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $21.43, for a total value of $233,737.01. Following the transaction, the insider now directly owns 651,099 shares in the company, valued at approximately $13,953,051.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,412,722 shares of company stock valued at $414,573,750. 12.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLTR. Deutsche Bank Aktiengesellschaft boosted their target price on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Tuesday, May 7th. Bank of America boosted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada boosted their target price on Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 7th. Raymond James boosted their target price on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Finally, Wedbush reissued an “outperform” rating and set a $35.00 price target on shares of Palantir Technologies in a research note on Monday, May 6th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.65.

Palantir Technologies Stock Performance

PLTR stock traded up $0.29 on Friday, reaching $21.01. The company had a trading volume of 22,158,712 shares, compared to its average volume of 52,563,880. Palantir Technologies Inc. has a 1 year low of $12.34 and a 1 year high of $27.50. The company’s fifty day moving average is $22.39 and its 200 day moving average is $20.76. The company has a market cap of $46.79 billion, a P/E ratio of 175.10, a PEG ratio of 4.78 and a beta of 2.76.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.