Banco Santander S.A. Sells 47,186 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Banco Santander S.A. trimmed its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 62.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,977 shares of the company’s stock after selling 47,186 shares during the quarter. Banco Santander S.A.’s holdings in Palantir Technologies were worth $644,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after buying an additional 6,466,596 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after purchasing an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC raised its position in shares of Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after purchasing an additional 1,514,232 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in shares of Palantir Technologies by 19.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Palantir Technologies by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,063,645 shares of the company’s stock valued at $121,283,000 after purchasing an additional 403,905 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 0.2 %

Shares of NYSE PLTR traded down $0.06 during midday trading on Friday, reaching $28.58. 49,581,636 shares of the stock were exchanged, compared to its average volume of 42,311,336. The firm has a market cap of $63.64 billion, a price-to-earnings ratio of 238.19, a PEG ratio of 6.60 and a beta of 2.71. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $29.83. The firm has a 50-day simple moving average of $24.25 and a two-hundred day simple moving average of $22.56.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $634.34 million for the quarter, compared to analysts’ expectations of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. Research analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PLTR shares. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research report on Monday, May 6th. Citigroup increased their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Royal Bank of Canada increased their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday, May 7th. Argus assumed coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price target for the company. Finally, HSBC raised their price target on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Seven research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.32.

Insider Activity at Palantir Technologies

In related news, Director Peter Thiel sold 6,285,833 shares of Palantir Technologies stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the sale, the director now owns 64,520,599 shares of the company’s stock, valued at approximately $1,376,224,376.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Peter Thiel sold 6,285,833 shares of Palantir Technologies stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the sale, the director now owns 64,520,599 shares of the company’s stock, valued at approximately $1,376,224,376.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the sale, the director now directly owns 69,039 shares in the company, valued at approximately $2,000,059.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,377,179 shares of company stock valued at $240,083,913. 12.93% of the stock is owned by company insiders.

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.