Palantir Technologies Inc. $PLTR Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 29.3% in the 1st quarter, Holdings Channel reports. The firm owned 81,599 shares of the company’s stock after purchasing an additional 18,478 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Palantir Technologies were worth $11,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in Palantir Technologies in the fourth quarter valued at $5,149,641,000. State Street Corp raised its holdings in shares of Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after buying an additional 6,777,771 shares during the last quarter. Cardano Risk Management B.V. boosted its stake in shares of Palantir Technologies by 917.4% during the fourth quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock worth $1,170,596,000 after buying an additional 5,938,343 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Palantir Technologies by 1,449.7% during the fourth quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company’s stock worth $937,205,000 after buying an additional 4,932,364 shares during the last quarter. Finally, Amundi increased its position in Palantir Technologies by 38.7% in the 3rd quarter. Amundi now owns 15,679,158 shares of the company’s stock valued at $2,814,879,000 after acquiring an additional 4,373,201 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 17,128 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the sale, the insider directly owned 375,242 shares in the company, valued at approximately $51,047,921.68. The trade was a 4.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of the company’s stock in a transaction on 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 directly owned 642,786 shares in the company, valued at approximately $87,444,607.44. This trade represents a 20.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 927,270 shares of company stock valued at $126,197,785 over the last three months. 9.53% of the stock is currently owned by corporate insiders.

Palantir Technologies Trading Down 2.8%

Shares of PLTR opened at $113.47 on Thursday. The stock’s 50 day moving average is $137.11 and its two-hundred day moving average is $151.23. Palantir Technologies Inc. has a twelve month low of $112.25 and a twelve month high of $207.52. The firm has a market capitalization of $272.03 billion, a PE ratio of 127.50, a P/E/G 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, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company’s revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.13 EPS. On average, sell-side analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent research reports. Phillip Securities increased their price objective on Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. BTIG Research lowered Palantir Technologies to a “neutral” rating in a report on Tuesday, June 16th. Citigroup upped their price target on Palantir Technologies from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. BNP Paribas Exane initiated coverage on Palantir Technologies in a report on Tuesday, June 16th. They set an “underperform” rating for the company. Finally, DZ Bank began coverage on shares of Palantir Technologies in a research report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies has an average rating of “Moderate Buy” and an average price target of $192.76.

Key Headlines Impacting 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

About Palantir Technologies

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.