UMB Bank n.a. Has $15.32 Million Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

UMB Bank n.a. cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 30.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,581 shares of the company’s stock after selling 87,541 shares during the period. UMB Bank n.a.’s holdings in Palantir Technologies were worth $15,321,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PLTR. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the 3rd quarter worth about $25,000. Prestige Wealth Management Group LLC increased its stake in shares of 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 purchasing an additional 650 shares during the last quarter. Wolff Wiese Magana LLC increased its stake in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies during the 2nd quarter worth about $30,000. Finally, Ashburton Jersey Ltd bought a new stake in shares of Palantir Technologies during the 2nd quarter worth about $36,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PLTR shares. 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. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. UBS Group started coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price for the company. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, DA Davidson boosted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price of $43.78.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $71.77 on Monday. The firm’s fifty day moving average is $70.49 and its 200-day moving average is $47.32. Palantir Technologies Inc. has a 52 week low of $16.03 and a 52 week high of $84.80. The firm has a market cap of $163.49 billion, a P/E ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data 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 company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the firm posted $0.03 EPS. The company’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.