Citizens Business Bank Sells 596 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Citizens Business Bank decreased its stake in Palantir Technologies Inc. (NYSE:PLTR) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,890 shares of the company’s stock after selling 596 shares during the period. Palantir Technologies comprises about 1.0% of Citizens Business Bank’s holdings, making the stock its 29th largest holding. Citizens Business Bank’s holdings in Palantir Technologies were worth $5,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies in the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new position in Palantir Technologies in the 3rd quarter valued at approximately $25,000. Prestige Wealth Management Group LLC boosted its position in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies during the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Down 2.2 %

Shares of NYSE PLTR opened at $70.89 on Wednesday. The firm has a market capitalization of $161.49 billion, a P/E ratio of 354.45, a P/E/G ratio of 10.29 and a beta of 2.87. The firm’s 50-day moving average price is $53.65 and its 200-day moving average price is $37.52. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $80.91.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the business earned $0.03 EPS. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. Equities research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $66.59, for a total value of $1,997,700.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $50,128,019.74. This represents a 3.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the transaction, the insider now directly owns 331,369 shares in the company, valued at $11,604,542.38. This represents a 31.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,407,852 shares of company stock worth $1,972,536,217 in the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PLTR. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. DA Davidson lifted their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 4th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.64.

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.