PNC Financial Services Group Inc. boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 8.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 552,092 shares of the company’s stock after purchasing an additional 40,900 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Palantir Technologies were worth $80,760,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Milestone Asset Management LLC increased its holdings in Palantir Technologies by 229.5% in the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock valued at $10,763,000 after purchasing an additional 42,173 shares in the last quarter. VCI Wealth Management LLC lifted its stake in shares of Palantir Technologies by 42.3% during the fourth quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock worth $2,166,000 after purchasing an additional 3,621 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $222,143,000. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after buying an additional 1,557,828 shares in the last quarter. Finally, Jefferson Bridge Capital LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $1,322,000. Institutional investors and hedge funds own 45.65% of the company’s stock.
Key Headlines Impacting Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Palantir continues to post strong fundamental growth, with Q1 revenue up 85% year over year to $1.63 billion and U.S. commercial revenue rising 133%, which supports the long-term bull case. Is Palantir (PLTR) Stock Worth the Premium After 85% Revenue Surge?
- Positive Sentiment: Investors remain upbeat about Palantir’s AI platform and secure software offering, with recent commentary highlighting expanding customer adoption and continued upside potential ahead of earnings. Palantir Stock Price Braces for a 15% Swing as Q2 Earnings Near
- Neutral Sentiment: Some analysts and valuation models still argue the stock may be below fair value on a split valuation basis, but this is not enough to offset the current risk-off sentiment. Palantir Technologies (PLTR) Could Be 23% Below Fair Value On Split Valuation Views
- Negative Sentiment: Regulatory scrutiny over the NHS data contract is increasing concern that Palantir’s government business could face more controversy and reputational risk. Why is Palantir stock falling 5% today?
- Negative Sentiment: Investors are also worried about competition from newer open-source intelligence tools that could overlap with some of Palantir’s core capabilities. Why is Palantir stock falling 5% today?
- Negative Sentiment: Valuation anxiety remains a major headwind, with multiple recent reports suggesting investors are questioning whether the stock’s premium is justified after its sharp run-up. Why Is Palantir Stock Falling on Wednesday?
Analyst Upgrades and Downgrades
Get Our Latest Stock Report on PLTR
Insider Activity at Palantir Technologies
In other news, insider David A. Glazer sold 17,128 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the completion of the transaction, the insider directly owned 375,242 shares in the company, valued at approximately $51,047,921.68. This represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the sale, the insider directly owned 199,759 shares of the company’s stock, valued at $27,175,214.36. The trade was a 8.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 1,112,270 shares of company stock worth $150,247,785. 9.53% of the stock is currently owned by insiders.
Palantir Technologies Stock Performance
NASDAQ:PLTR opened at $124.57 on Thursday. The stock has a market cap of $298.63 billion, a price-to-earnings ratio of 139.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.56. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52. The business’s 50-day simple moving average is $131.98 and its 200 day simple moving average is $143.00.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm earned $0.13 EPS. Palantir Technologies’s quarterly revenue was up 84.7% on a year-over-year basis. On average, equities research analysts predict that Palantir Technologies Inc. will post 1.17 EPS for the current year.
About Palantir Technologies
Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.
Palantir’s product portfolio centers on a small number of core platforms.
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