Bank of New York Mellon Corp Has $1.86 Billion Stake in Palantir Technologies Inc. $PLTR

Key Points

• Bank of New York Mellon trimmed its Palantir stake by 1.6% in the first quarter, but it still held about 12.7 million shares worth roughly $1.86 billion as of its latest filing.
• Several other institutional investors also adjusted their positions, while institutional ownership remains high at 45.65% of Palantir’s stock. Insider selling has also been notable, with executives selling more than 1.1 million shares over the last three months.
• Analyst sentiment is mixed but broadly positive: the stock carries a Moderate Buy consensus rating, with an average price target of $190.85. Palantir also recently beat quarterly earnings and revenue estimates, with revenue up 84.7% year over year.

Bank of New York Mellon Corp decreased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,719,571 shares of the company's stock after selling 210,139 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.53% of Palantir Technologies worth $1,860,619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Basepoint Wealth LLC acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $29,000. Morton Brown Family Wealth LLC lifted its stake in shares of Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after buying an additional 125 shares during the last quarter. Cornerstone Financial Management LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter worth $31,000. Clayton Financial Group LLC boosted its holdings in shares of Palantir Technologies by 500.0% during the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after buying an additional 150 shares during the period. Finally, Wexford Capital LP bought a new stake in shares of Palantir Technologies during the 3rd quarter worth $36,000. Institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 319,934 shares of Palantir Technologies stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the sale, the insider directly owned 592 shares in the company, valued at approximately $80,535.68. The trade was a 99.82% decrease in their position. The sale was disclosed in a legal filing 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 Jeffrey Buckley sold 1,481 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $128.80, for a total transaction of $190,752.80. Following the completion of the sale, the insider directly owned 60,226 shares in the company, valued at approximately $7,757,108.80. The trade was a 2.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,112,270 shares of company stock worth $150,247,785. 9.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PLTR has been the topic of several recent analyst reports. President Capital upgraded shares of Palantir Technologies from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $25.50 to $133.00 in a report on Monday, June 29th. Royal Bank Of Canada restated an "underperform" rating and set a $90.00 price target on shares of Palantir Technologies in a report on Tuesday, May 5th. Wedbush began coverage on Palantir Technologies in a research note on Tuesday, June 16th. They issued an "outperform" rating on the stock. BNP Paribas Exane assumed coverage on Palantir Technologies in a research report on Tuesday, June 16th. They set an "underperform" rating for the company. Finally, Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of Palantir Technologies in a research note on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of "Moderate Buy" and an average target price of $190.85.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir confirmed its Q2 earnings release date, keeping attention on the upcoming Aug. 3 report and reinforcing the idea that the next catalyst could drive the stock higher if results and guidance are strong. Palantir Stock Climbs After Confirming Q2 Earnings Release
• Positive Sentiment: Recent partnership announcements and analyst commentary have kept Palantir in the spotlight, supporting the view that enterprise and government demand for its AI software remains strong. Palantir Stock in Focus After a Busy Stretch of Partnerships, Analyst Activity
• Positive Sentiment: The U.S. Small Business Administration expanded its use of Palantir software to help detect and prosecute pandemic-era fraud, highlighting continued government adoption of PLTR’s platforms. SBA Expands Use of Palantir Software to Accelerate Pandemic Fraud Crackdown
• Positive Sentiment: Commentary around Palantir’s ontology and enterprise AI leadership suggests investors still see the company as a key beneficiary of AI adoption beyond simple model training. Palantir's Ontology Edge Is Redefining AI Software Leadership
• Neutral Sentiment: Several articles focused on Palantir’s extremely rich valuation, with one piece asking whether its premium multiple is justified. That may keep debate intense, but it is not a direct business setback. Palantir Trades at 64X Sales. Here's Whether That Premium Is Justified.
• Neutral Sentiment: Palantir’s CTO accused China’s AI models of being built on stolen U.S. intellectual property, which underscores the company’s hardline AI stance but is more of a geopolitical talking point than a direct earnings driver. Palantir CTO Says China’s AI Models Are Built on “Stolen American IP”
• Negative Sentiment: Some market commentary continues to frame PLTR as overextended versus peers, with articles comparing it unfavorably to Meta and citing concerns about its high multiple and recent volatility. Meta Vs. Palantir: Meta Platforms’ Deep Value Moats Crush Palantir’s Hyper-Inflatated Multiple
• Negative Sentiment: One article said Palantir fell as investors worried about new AI spending from Microsoft and Amazon and competition from Anthropic, suggesting rising competition could pressure sentiment. Why Is Palantir Stock Falling on Tuesday?

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $133.76 on Thursday. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52. The company has a fifty day moving average price of $132.36 and a 200 day moving average price of $144.76. The stock has a market cap of $320.66 billion, a P/E ratio of 150.29, a PEG ratio of 2.14 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.Palantir Technologies's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 EPS. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 1.17 EPS for the current year.

Palantir Technologies Company 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.

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