Huntington National Bank Buys 647 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Huntington National Bank increased its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,770 shares of the company’s stock after purchasing an additional 647 shares during the quarter. Huntington National Bank’s holdings in Palantir Technologies were worth $326,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in Palantir Technologies by 32.0% in the first quarter. Empowered Funds LLC now owns 24,741 shares of the company’s stock valued at $569,000 after acquiring an additional 6,002 shares during the last quarter. Sei Investments Co. increased its stake in shares of Palantir Technologies by 20.1% in the 1st quarter. Sei Investments Co. now owns 299,667 shares of the company’s stock valued at $6,895,000 after purchasing an additional 50,159 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Palantir Technologies by 6.7% during the 1st quarter. Russell Investments Group Ltd. now owns 400,091 shares of the company’s stock worth $9,300,000 after buying an additional 25,258 shares in the last quarter. ProShare Advisors LLC bought a new stake in shares of Palantir Technologies during the 1st quarter worth $262,000. Finally, Orion Portfolio Solutions LLC boosted its stake in Palantir Technologies by 7.2% in the first quarter. Orion Portfolio Solutions LLC now owns 58,715 shares of the company’s stock valued at $1,351,000 after buying an additional 3,922 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the completion of the sale, the director now owns 1,510,630 shares in the company, valued at $46,663,360.70. The trade was a 1.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. This represents a 6.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,562,840 shares of company stock valued at $1,435,787,316 in the last ninety days. 12.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Bank of America increased their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. The Goldman Sachs Group increased their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Stock Performance

NYSE:PLTR opened at $65.77 on Friday. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $66.00. The company has a 50 day simple moving average of $43.19 and a two-hundred day simple moving average of $32.01. The company has a market capitalization of $147.29 billion, a PE ratio of 328.87 and a beta of 2.70.

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

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.