WASHINGTON TRUST Co bought a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,366 shares of the company’s stock, valued at approximately $630,000.
A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Palantir Technologies by 0.4% during the 2nd quarter. BlackRock Inc. now owns 189,817,693 shares of the company’s stock valued at $22,146,030,000 after purchasing an additional 757,322 shares during the last quarter. State Street Corp raised its holdings in Palantir Technologies by 2.8% during the second quarter. State Street Corp now owns 104,490,468 shares of the company’s stock valued at $12,190,903,000 after acquiring an additional 2,863,874 shares during the period. Bank of America Corp DE lifted its holdings in Palantir Technologies by 28.7% in the 1st quarter. Bank of America Corp DE now owns 18,839,779 shares of the company’s stock worth $2,755,883,000 after purchasing an additional 4,201,852 shares in the last quarter. Amundi lifted its holdings in shares of Palantir Technologies by 2.5% in the first quarter. Amundi now owns 16,410,400 shares of the company’s stock worth $2,400,513,000 after buying an additional 398,093 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Palantir Technologies during the first quarter valued at about $1,574,111,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.
Wall Street Analyst Weigh In
PLTR has been the subject of several research reports. Wolfe Research started coverage on shares of Palantir Technologies in a research report on Tuesday, August 4th. They set a “buy” rating for the company. William Blair restated an “outperform” rating on shares of Palantir Technologies in a research note on Wednesday, August 26th. Weiss Ratings raised shares of Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Royal Bank Of Canada reiterated an “underperform” rating and issued a $90.00 target price on shares of Palantir Technologies in a report on Friday, July 31st. Finally, Citigroup raised their price objective on Palantir Technologies from $245.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.48.
Read Our Latest Stock Analysis on Palantir Technologies
Trending Headlines about Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Investors expect Palantir to outperform its third-quarter revenue guidance of approximately $2.16 billion, based on the company’s recent history of exceeding forecasts. A stronger result or raised outlook could support the stock’s rally. Palantir Guided for $2.16 Billion in Revenue for Q3
- Positive Sentiment: Analyst Dan Ives said Palantir and Snowflake are approaching the point where significant AI infrastructure spending translates into software monetization, and he believes Wall Street may be underestimating technology earnings potential. Dan Ives on AI Monetization
- Positive Sentiment: Citi raised its Palantir price target from $245 to $250 while maintaining a Buy rating, adding to bullish expectations ahead of the earnings release. Citi Raises Palantir Stock Price Target
- Positive Sentiment: Palantir is expanding its commercial and government reach through partnerships with Stagwell and Knox Systems, while elevating Aplos Data within its partner network to help deploy Foundry and AIP to additional customers. Palantir and Stagwell Expand AI Partnership
- Neutral Sentiment: The November 2 earnings report is the immediate catalyst. Investors will watch revenue growth, commercial customer momentum, margins and forward guidance to determine whether Palantir can justify its near-record valuation. Should You Buy or Sell Palantir Ahead of Earnings?
- Negative Sentiment: Palantir trades at a very elevated earnings multiple, and some analysts see limited additional upside. Any slowdown relative to expectations could prompt profit-taking or a sharp pullback. Palantir: The Business Is Booming, But the Stock Has a Problem
- Negative Sentiment: ARK Invest trimmed its Palantir position, while concerns about the scalability and economics of forward-deployed AI add pressure to the bullish thesis. Cathie Wood Trims Palantir Shares
Palantir Technologies Stock Performance
Shares of NASDAQ PLTR opened at $196.75 on Friday. The company has a market capitalization of $472.80 billion, a PE ratio of 168.16, a price-to-earnings-growth ratio of 3.46 and a beta of 1.60. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $212.94. The company’s fifty day moving average price is $184.76 and its 200 day moving average price is $153.78.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The company’s revenue for the quarter was up 92.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. On average, equities analysts expect that Palantir Technologies Inc. will post 1.31 EPS for the current year.
Insider Activity
In related news, insider Shyam Sankar sold 35,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $155.70, for a total value of $5,449,500.00. Following the completion of the sale, the insider owned 642,786 shares in the company, valued at approximately $100,081,780.20. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 2,055 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $174.83, for a total value of $359,275.65. Following the completion of the sale, the insider owned 58,171 shares in the company, valued at $10,170,035.93. This represents a 3.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 560,390 shares of company stock worth $97,909,177 in the last three months. 9.53% of the stock is currently owned by corporate insiders.
Palantir Technologies Company Profile
Palantir Technologies Inc develops software platforms that help government agencies and commercial organizations integrate, analyze and act on data. Its products are designed to support complex operations such as defense and intelligence, supply-chain management, manufacturing, healthcare and other data-intensive activities.
Palantir’s principal platforms include Gotham, which is primarily used by government and defense customers; Foundry, which helps commercial and institutional users build data-driven workflows; Apollo, a platform for deploying and managing software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects generative artificial intelligence capabilities with an organization’s data and operational systems.
Founded in 2003, the company initially focused on software for government and national-security applications before expanding into commercial markets.
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