Cullen Frost Bankers Inc. Trims Holdings in Palantir Technologies Inc. $PLTR

Cullen Frost Bankers Inc. decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 89.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,821 shares of the company’s stock after selling 15,764 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Palantir Technologies were worth $248,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Truist Financial Corp increased its stake in Palantir Technologies by 4.2% during the second quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after acquiring an additional 21,809 shares during the last quarter. Presilium Private Wealth LLC acquired a new stake in Palantir Technologies during the second quarter worth $204,000. New Century Financial Group LLC acquired a new stake in Palantir Technologies during the second quarter worth $228,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Palantir Technologies by 10.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company’s stock worth $984,786,000 after acquiring an additional 1,135,841 shares during the last quarter. Finally, Synergy Asset Management LLC increased its stake in Palantir Technologies by 37.1% during the second quarter. Synergy Asset Management LLC now owns 9,623 shares of the company’s stock worth $1,312,000 after acquiring an additional 2,606 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

PLTR has been the subject of several recent analyst reports. Cantor Fitzgerald raised their target price on Palantir Technologies from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Piper Sandler raised their target price on Palantir Technologies from $182.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a “sell” rating to a “hold” rating and raised their target price for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Finally, Wall Street Zen cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $141.28.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the transaction, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the completion of the transaction, the insider owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. This trade represents a 10.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,557,750 shares of company stock valued at $239,713,896 in the last 90 days. Insiders own 9.23% of the company’s stock.

Palantir Technologies Trading Up 2.3%

Shares of NASDAQ PLTR opened at $184.63 on Friday. Palantir Technologies Inc. has a twelve month low of $40.90 and a twelve month high of $190.00. The stock has a fifty day simple moving average of $171.35 and a 200-day simple moving average of $146.34. The stock has a market capitalization of $438.01 billion, a PE ratio of 615.45, a PEG ratio of 9.78 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $939.29 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The company’s revenue was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies 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.