Texas Capital Bank Wealth Management Services Inc Has $717,000 Stake in Palantir Technologies Inc. (NYSE:PLTR)

Texas Capital Bank Wealth Management Services Inc raised its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 35.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,270 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Palantir Technologies were worth $717,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp boosted its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Palantir Technologies by 1.9% during the 3rd quarter. Stifel Financial Corp now owns 948,470 shares of the company’s stock valued at $35,283,000 after acquiring an additional 17,561 shares during the period. Quantinno Capital Management LP grew its holdings in Palantir Technologies by 335.0% in the third quarter. Quantinno Capital Management LP now owns 115,698 shares of the company’s stock worth $4,304,000 after purchasing an additional 89,098 shares during the period. Quarry LP grew its stake in shares of Palantir Technologies by 27.8% in the 3rd quarter. Quarry LP now owns 5,367 shares of the company’s stock valued at $200,000 after buying an additional 1,167 shares during the period. Finally, Readystate Asset Management LP acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $337,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $71.87 on Friday. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $72.98. The firm has a market capitalization of $163.72 billion, a price-to-earnings ratio of 359.35, a PEG ratio of 9.59 and a beta of 2.87. The stock has a 50 day moving average price of $51.46 and a 200 day moving average price of $36.20.

Palantir Technologies (NYSE:PLTR) last posted 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 for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the firm posted $0.03 EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,050 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $33.19, for a total value of $200,799.50. Following the transaction, the director now owns 158,280 shares of the company’s stock, valued at approximately $5,253,313.20. This represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,423,181 shares of company stock worth $1,972,588,658. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent analyst reports. Bank of America lifted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a report on Thursday, November 7th. Finally, Mizuho raised their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.64.

Palantir Technologies Company Profile

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.