Cullen Frost Bankers Inc. Decreases Its Stake in Palantir Technologies

In a notable move during the last quarter, Cullen Frost Bankers Inc. has significantly reduced its investment in Palantir Technologies Inc. (NYSEP:PLTR), a specialist in data analysis and integration for diverse clients. The financial institution reportedly cut its holdings by 44%, selling 2,200 shares, which left it with a total of 2,800 shares by the end of the quarter. This adjustment was reflected in their most recent Form 13F filing with the Securities and Exchange Commission (SEC).

Impact on Cullen Frost's Portfolio

The sold shares of Palantir Technologies accounted for a portfolio value of about $48,000 according to Cullen Frost Bankers Inc.'s latest SEC filing. Despite the sell-off, other institutional investors and hedge funds still maintain a sizeable interest in Palantir, owning roughly 45.65% of the company's stock.

Institutional Investor Activity

Apart from Cullen Frost Bankers Inc., there were also other movements in the ownership of Palantir Technologies shares among various institutional investors. For instance, Fiduciary Alliance LLC increased its stake by 1.0%, adding 618 shares, and Golden State Equity Partners augmented theirs by 4.6% with an additional 640 shares. LCM Capital Management Inc. and Valeo Financial Advisors LLC both made increments to their holdings as well. These strategic decisions underscore the shifting landscape of institutional investments in major tech companies like Palantir.

Insider Transactions

Palantir Technologies Inc has also experienced noteworthy insider trading. Shyam Sankar, an insider at Palantir, sold 50,000 shares of the company stock, a transaction valued at over $1.17 million. Additionally, Director Peter Thiel disposed of a significant 7 million shares. As a result, insider actions in the market formed a portion of Palantir's recent stock trading narrative, with company insiders owning approximately 13.96% of Palantir's stock.

Analyst Ratings and Company Stock

Despite these internal and external changes in share ownership, analyst ratings for Palantir Technologies have varied, ranging from 'sell' to 'buy' with a consensus target price of $20.65. Recently, the stock experienced a slight drop of 2.6%. When examining the company's broader financial track record, it shows a market cap of $45.58 billion and a price-to-earnings-growth ratio of 4.71.

About Palantir Technologies

Palantir Technologies Inc. is renowned for its advanced software solutions, particularly the Palantir Gotham platform, which is extensively utilized by the intelligence community for counterterrorism and other crucial operations globally. Their data analysis tools help to uncover hidden patterns across vast datasets, proving critical for both analysis and operational planning.

Palantir, CullenFrost, Stocks