Eastern Bank Buys 338 Shares of Palantir Technologies Inc. $PLTR

Eastern Bank increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 11.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,344 shares of the company’s stock after buying an additional 338 shares during the quarter. Eastern Bank’s holdings in Palantir Technologies were worth $456,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PLTR. Mechanics Financial Corp bought a new position in Palantir Technologies in the 1st quarter valued at $25,000. Signature Resources Capital Management LLC bought a new position in Palantir Technologies in the 2nd quarter valued at $25,000. Wealth Preservation Advisors LLC bought a new position in Palantir Technologies in the 1st quarter valued at $27,000. 1248 Management LLC bought a new position in Palantir Technologies in the 1st quarter valued at $27,000. Finally, Family Legacy Financial Solutions LLC bought a new position in Palantir Technologies in the 2nd quarter valued at $31,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 5.4%

Shares of Palantir Technologies stock opened at $175.44 on Friday. Palantir Technologies Inc. has a 12 month low of $40.36 and a 12 month high of $190.00. The business has a fifty day simple moving average of $171.32 and a 200 day simple moving average of $140.05. The stock has a market cap of $416.20 billion, a PE ratio of 584.82, a price-to-earnings-growth ratio of 9.51 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $939.29 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue 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. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the sale, the insider directly owned 307,470 shares of the company’s stock, valued at $48,687,874.50. The trade was a 10.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Buckley sold 2,803 shares of Palantir Technologies stock in a transaction 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 sale, the insider directly owned 50,961 shares of the company’s stock, valued at approximately $8,000,877. This trade represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,591,085 shares of company stock valued at $244,714,146 over the last quarter. 9.23% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on PLTR shares. DA Davidson set a $170.00 price objective on Palantir Technologies and gave the company a “neutral” rating in a research report on Tuesday, August 5th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $90.00 to $141.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Citigroup reissued a “neutral” rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 target price on Palantir Technologies and gave the company an “equal weight” rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen cut Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Five equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $140.22.

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.