Credit Suisse AG Cuts Stake in Palantir Technologies Inc. (NYSE:PLTR)

Posted by Defense World Staff on Aug 25th, 2023

Credit Suisse AG reduced its stake in Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,804,908 shares of the company’s stock after selling 71,233 shares during the period. Credit Suisse AG owned approximately 0.09% of Palantir Technologies worth $15,251,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Close Asset Management Ltd purchased a new stake in shares of Palantir Technologies in the first quarter worth $28,000. Manchester Capital Management LLC purchased a new stake in shares of Palantir Technologies during the first quarter valued at $28,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $28,000. Laffer Tengler Investments purchased a new stake in shares of Palantir Technologies during the first quarter valued at $36,000. Finally, HHM Wealth Advisors LLC boosted its position in shares of Palantir Technologies by 1,510.9% during the first quarter. HHM Wealth Advisors LLC now owns 4,446 shares of the company’s stock valued at $38,000 after buying an additional 4,170 shares during the last quarter. 31.57% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 7.5 %

NYSE PLTR opened at $14.15 on Friday. The stock’s 50-day moving average price is $16.12 and its 200-day moving average price is $11.90. Palantir Technologies Inc. has a 52 week low of $5.84 and a 52 week high of $20.24.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 325,000 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $15.40, for a total value of $5,005,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $99,056,773.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Shyam Sankar sold 1,031,533 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $15.00, for a total transaction of $15,472,995.00. Following the completion of the sale, the insider now owns 1,313,446 shares in the company, valued at $19,701,690. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 325,000 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $15.40, for a total value of $5,005,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $99,056,773.20. The disclosure for this sale can be found here. Insiders have sold 3,993,980 shares of company stock valued at $70,069,087 over the last quarter. 13.96% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on PLTR. Citigroup increased their price objective on Palantir Technologies from $6.00 to $10.00 and gave the company a “sell” rating in a research report on Monday, August 7th. Wolfe Research increased their price objective on Palantir Technologies from $6.00 to $7.50 and gave the company an “underperform” rating in a research report on Tuesday, August 8th. Mizuho increased their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, August 8th. Raymond James increased their target price on Palantir Technologies from $18.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, August 8th. Finally, Bank of America increased their target price on Palantir Technologies from $13.00 to $18.00 and gave the company a “buy” rating in a report on Monday, June 12th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $12.96.

Get Our Latest Stock Report on PLTR

About Palantir Technologies

(Free Report)

Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.