Palantir Technologies Inc. $PLTR Position Cut by BankPlus Trust Department

BankPlus Trust Department reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 30.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,315 shares of the company’s stock after selling 1,030 shares during the quarter. BankPlus Trust Department’s holdings in Palantir Technologies were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PLTR. Revolve Wealth Partners LLC acquired a new position in Palantir Technologies during the fourth quarter worth about $450,000. Bison Wealth LLC raised its holdings in Palantir Technologies by 37.4% during the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after buying an additional 4,667 shares during the period. Miracle Mile Advisors LLC raised its holdings in Palantir Technologies by 9.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 17,305 shares of the company’s stock worth $1,461,000 after buying an additional 1,531 shares during the period. OLD National Bancorp IN grew its stake in Palantir Technologies by 137.1% during the 1st quarter. OLD National Bancorp IN now owns 9,966 shares of the company’s stock valued at $841,000 after acquiring an additional 5,762 shares in the last quarter. Finally, Wesbanco Bank Inc. grew its stake in Palantir Technologies by 3.7% during the 1st quarter. Wesbanco Bank Inc. now owns 9,956 shares of the company’s stock valued at $840,000 after acquiring an additional 356 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Palantir Technologies in a research note on Saturday, September 27th. Wedbush set a $200.00 target price on Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, August 5th. UBS Group reiterated a “neutral” rating and set a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Bank of America lifted their price target on Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, Citigroup reiterated a “neutral” rating and set a $177.00 price target (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $140.22.

Palantir Technologies Stock Performance

PLTR opened at $182.17 on Wednesday. The business has a 50 day moving average price of $169.85 and a 200 day moving average price of $138.26. Palantir Technologies Inc. has a twelve month low of $39.01 and a twelve month high of $190.00. The firm has a market cap of $432.17 billion, a P/E ratio of 607.25, a price-to-earnings-growth ratio of 10.02 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period in the previous year, the company earned $0.09 EPS. The company’s revenue for the quarter 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. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 375,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $106,261,243.20. The trade was a 34.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the sale, the insider owned 431,169 shares in the company, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,591,085 shares of company stock valued at $244,714,146. 12.93% of the stock is owned by corporate insiders.

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.