PNC Financial Services Group Inc. Buys 84,262 Shares of Palantir Technologies Inc. $PLTR

PNC Financial Services Group Inc. grew its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 22.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 456,946 shares of the company’s stock after acquiring an additional 84,262 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Palantir Technologies were worth $62,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new stake in Palantir Technologies in the 4th quarter worth about $450,000. Bison Wealth LLC boosted its stake in shares of Palantir Technologies by 37.4% in 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 last quarter. Capstone Wealth Management Group LLC grew its holdings in shares of Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock valued at $1,447,000 after acquiring an additional 4,722 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Palantir Technologies in the first quarter valued at approximately $536,000. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Palantir Technologies by 290.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 4,860 shares of the company’s stock valued at $410,000 after acquiring an additional 3,615 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PLTR shares. Wall Street Zen raised Palantir Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Piper Sandler boosted their price target on shares of Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Bank of America lifted their price objective on shares of Palantir Technologies from $215.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Citigroup boosted their target price on shares of Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $172.28.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $172.14 on Friday. The stock has a market capitalization of $408.37 billion, a P/E ratio of 409.87, a P/E/G ratio of 7.14 and a beta of 2.63. Palantir Technologies Inc. has a 52-week low of $58.53 and a 52-week high of $207.52. The stock’s 50-day simple moving average is $180.05 and its 200 day simple moving average is $155.94.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business earned $0.10 earnings per share. The company’s quarterly revenue was up 62.8% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the sale, the insider directly owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 375,000 shares of the 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 sale, the insider owned 702,786 shares in the company, valued at $106,261,243.20. This represents a 34.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,527,750 shares of company stock worth $234,463,896 in the last three months. Insiders own 9.23% of the company’s stock.

Palantir Technologies 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.