Citizens Financial Group Inc. RI Invests $558,000 in Palantir Technologies Inc. (NYSE:PLTR)

Citizens Financial Group Inc. RI bought a new position in Palantir Technologies Inc. (NYSE:PLTR) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 32,500 shares of the company’s stock, valued at approximately $558,000.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 11.1% in the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock worth $2,997,419,000 after purchasing an additional 18,756,392 shares during the last quarter. Morgan Stanley grew its position in Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after acquiring an additional 4,675,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Palantir Technologies by 8.2% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock worth $216,183,000 after acquiring an additional 955,992 shares in the last quarter. Northern Trust Corp grew its position in Palantir Technologies by 5.5% in the third quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock worth $183,979,000 after acquiring an additional 601,012 shares in the last quarter. Finally, ARK Investment Management LLC grew its position in Palantir Technologies by 16.1% in the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after acquiring an additional 1,514,232 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several recent research reports. Bank of America lifted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Mizuho lifted their price target on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a research report on Wednesday, February 14th. Finally, Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the company from $10.00 to $20.00 in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $22.52 on Friday. The company has a 50 day moving average price of $23.45 and a 200-day moving average price of $20.06. Palantir Technologies Inc. has a fifty-two week low of $7.28 and a fifty-two week high of $27.50. The company has a market capitalization of $49.83 billion, a PE ratio of 250.25, a P/E/G ratio of 5.52 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. On average, analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the transaction, the director now owns 181,830 shares of the company’s stock, valued at $4,563,933. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Heather A. Planishek sold 32,828 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the completion of the transaction, the insider now owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the completion of the transaction, the director now directly owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock valued at $184,343,202 over the last 90 days. Corporate insiders own 13.96% of the company’s stock.

Palantir Technologies 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.