Eastern Bank Has $456,000 Holdings in Palantir Technologies Inc. $PLTR

Eastern Bank increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 11.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,344 shares of the company’s stock after acquiring an additional 338 shares during the period. Eastern Bank’s holdings in Palantir Technologies were worth $456,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies during the 1st quarter valued at about $25,000. Signature Resources Capital Management LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of Palantir Technologies during the 1st quarter valued at about $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter valued at about $27,000. Finally, Family Legacy Financial Solutions LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Down 5.4%

Shares of NASDAQ:PLTR opened at $175.44 on Friday. Palantir Technologies Inc. has a 1-year low of $40.36 and a 1-year high of $190.00. The firm has a market capitalization of $416.20 billion, a PE ratio of 584.82, a PEG ratio of 9.51 and a beta of 2.60. The business’s 50 day moving average is $171.32 and its 200-day moving average is $140.05.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same quarter last year, the firm earned $0.09 EPS. Palantir Technologies’s revenue for the quarter was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the topic of a number of analyst reports. Piper Sandler set a $182.00 price objective on Palantir Technologies in a report on Tuesday, August 5th. Wall Street Zen lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 30th. DA Davidson set a $170.00 target price on Palantir Technologies and gave the company a “neutral” rating in a report on Tuesday, August 5th. Cantor Fitzgerald raised their target price on Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, August 5th. Finally, Bank of America raised their target price on Palantir Technologies from $180.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $140.22.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $186.39, for a total transaction of $149,112.00. Following the completion of the transaction, the director owned 62,087 shares in the company, valued at $11,572,395.93. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Buckley sold 2,803 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $157.00, for a total value of $440,071.00. Following the transaction, the insider owned 50,961 shares of the company’s stock, valued at $8,000,877. This trade represents a 5.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,591,085 shares of company stock worth $244,714,146 in the last three months. Company insiders own 9.23% of the company’s stock.

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.