Fifth Third Wealth Advisors LLC Grows Stock Position in Palantir Technologies Inc. $PLTR

Fifth Third Wealth Advisors LLC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 29.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,599 shares of the company’s stock after purchasing an additional 18,478 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Palantir Technologies were worth $11,936,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bare Financial Services Inc boosted its stake in shares of Palantir Technologies by 54.5% in the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the period. Beaumont Financial Advisors LLC raised its holdings in Palantir Technologies by 2.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 2,965 shares of the company’s stock valued at $527,000 after acquiring an additional 59 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in Palantir Technologies by 0.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,635 shares of the company’s stock valued at $1,890,000 after acquiring an additional 60 shares in the last quarter. Sandbox Financial Partners LLC lifted its stake in Palantir Technologies by 1.3% in the fourth quarter. Sandbox Financial Partners LLC now owns 4,911 shares of the company’s stock worth $873,000 after acquiring an additional 61 shares during the last quarter. Finally, San Luis Wealth Advisors LLC lifted its stake in Palantir Technologies by 1.6% in the fourth quarter. San Luis Wealth Advisors LLC now owns 4,087 shares of the company’s stock worth $726,000 after acquiring an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PLTR. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and dropped their price objective for the company from $205.00 to $151.00 in a research report on Friday, May 1st. Wedbush initiated coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They set an “outperform” rating for the company. BNP Paribas Exane started coverage on Palantir Technologies in a report on Tuesday, June 16th. They issued an “underperform” rating on the stock. Mizuho cut their price target on Palantir Technologies from $195.00 to $185.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Finally, Zacks Research raised Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $192.76.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 165,514 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the transaction, the insider owned 642,786 shares of the company’s stock, valued at approximately $87,444,607.44. This trade represents a 20.48% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Alexander C. Karp sold 397,744 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $54,109,093.76. Following the sale, the insider owned 6,432,258 shares in the company, valued at $875,044,378.32. This trade represents a 5.82% 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. Insiders sold 927,270 shares of company stock worth $126,197,785 over the last three months. Company insiders own 9.53% of the company’s stock.

Trending Headlines about Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir’s partnership with Zeta Global strengthens the company’s AI growth narrative and adds another enterprise use case for Foundry, which analysts view as validation of Palantir’s platform. Article Title
• Positive Sentiment: Cathie Wood’s ARK Invest bought Palantir shares, a signal that some growth investors still see value in the pullback. Article Title
• Neutral Sentiment: Several articles argue that Palantir’s selloff may have gone too far and that the stock could be a buy for long-term investors, but these are opinion pieces rather than new fundamentals. Article Title
• Negative Sentiment: Sentiment remains weak because Palantir has been sliding toward or hitting new 52-week lows, with reports pointing to AI disruption fears, sector rotation out of software, and valuation concerns as reasons for the decline. Article Title
• Negative Sentiment: Coverage also highlighted competitive and international setbacks, including reports of European customers moving away from Palantir, which may add pressure to the stock. Article Title

Palantir Technologies Trading Down 2.8%

PLTR stock opened at $113.47 on Thursday. Palantir Technologies Inc. has a twelve month low of $112.25 and a twelve month high of $207.52. The company’s 50 day moving average is $137.11 and its two-hundred day moving average is $151.23. The stock has a market cap of $272.03 billion, a P/E ratio of 127.50, a PEG ratio of 1.85 and a beta of 1.53.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the business posted $0.13 EPS. The company’s revenue for the quarter was up 84.7% on a year-over-year basis. On average, equities research analysts predict that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Palantir Technologies Profile

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.