Convergence Financial LLC Grows Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Convergence Financial LLC nearly doubled its Palantir stake during the second quarter, increasing holdings by 95% to 21,863 shares valued at approximately $2.55 million. Institutional investors own 45.65% of the stock.
• Palantir reported strong quarterly results, with revenue rising 92.8% year over year to $1.94 billion and earnings of $0.41 per share, exceeding analyst estimates. Analysts maintain a “Moderate Buy” consensus, with an average price target of $192.19.
• Valuation and insider selling remain risks: PLTR trades at roughly 150 times earnings, while insiders have sold 228,608 shares worth $30.8 million over the past 90 days. The stock was recently trading at $175.19, despite bullish expectations for AI-driven growth.

Convergence Financial LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 95.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,863 shares of the company's stock after buying an additional 10,654 shares during the quarter. Convergence Financial LLC's holdings in Palantir Technologies were worth $2,551,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Basepoint Wealth LLC bought a new position in Palantir Technologies in the fourth quarter valued at $29,000. Ballast Advisors LLC bought a new stake in Palantir Technologies during the first quarter worth about $29,000. Morton Brown Family Wealth LLC lifted its stake in Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after purchasing an additional 125 shares during the last quarter. Cornerstone Financial Management LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $31,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Palantir Technologies in the 1st quarter worth about $32,000. 45.65% of the stock is owned by institutional investors.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Enterprise demand remains a key catalyst. Recent coverage highlights growing adoption of Palantir’s artificial-intelligence software, while CEO Alex Karp said demand for sovereign AI could allow the company to sustain its current margins and rapid revenue growth over the next 18 months. Palantir Stock Climbs as Enterprise AI Demand Keeps Growing
• Positive Sentiment: Palantir’s Sovereignty Bootcamps are attracting nearly 200 organizations across two events in less than 30 days. The company said the programs are helping accelerate onboarding of new customers, supporting its government and enterprise growth story. Palantir's Sovereignty Bootcamps Draw Nearly 200 Organizations in 30 Days
• Positive Sentiment: Investor enthusiasm is being reinforced by Palantir’s latest results: revenue rose 92.8% year over year to $1.94 billion, exceeding estimates, while adjusted earnings also beat expectations. Analysts and Zacks subsequently issued favorable commentary, including a Rank #1 Strong Buy designation. New Strong Buy Stocks for August 19th
• Positive Sentiment: Short sellers are facing substantial losses as Palantir’s rally continues. Reports estimate roughly $12 billion in short interest and about $5 billion in mark-to-market losses, creating the potential for additional buying from traders covering bearish positions. Short Sellers Are Losing Big on Palantir — Here's the Data
• Neutral Sentiment: Palantir’s AI outlook has attracted sharply divided opinions. Bullish analysts see a long runway in defense, government and enterprise software, while others argue the stock must deliver exceptional growth to justify its current valuation. Palantir Technologies: What Could Shift Its AI Story?
• Negative Sentiment: Valuation remains the primary downside concern. With a price-to-earnings ratio near 150 and strong recent gains, skeptics question whether revenue growth and the 2026 outlook are already reflected in the share price. Is Palantir Technologies Overvalued?
• Negative Sentiment: Michael Burry has renewed his bearish position using put options, citing valuation and stock-based compensation concerns. Higher Treasury yields also pose a broader risk to richly valued growth stocks. Michael Burry Is Betting Against Palantir Again

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 35,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $155.70, for a total value of $5,449,500.00. Following the completion of the sale, the insider owned 642,786 shares in the company, valued at approximately $100,081,780.20. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Elaina Friedman Stat sold 3,032 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $165.00, for a total value of $500,280.00. Following the completion of the sale, the director owned 54,107 shares in the company, valued at approximately $8,927,655. This represents a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 228,608 shares of company stock worth $30,810,313. 9.53% of the stock is currently owned by company insiders.

Palantir Technologies Trading Up 2.1%

PLTR stock opened at $175.19 on Thursday. The stock has a market capitalization of $420.99 billion, a price-to-earnings ratio of 149.74, a PEG ratio of 2.43 and a beta of 1.59. The firm's 50-day moving average price is $137.01 and its two-hundred day moving average price is $140.27. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. Palantir Technologies's revenue for the quarter was up 92.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. Equities analysts predict that Palantir Technologies Inc. will post 1.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PLTR. Mizuho raised their price objective on Palantir Technologies from $185.00 to $215.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $204.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 4th. Piper Sandler reiterated an "overweight" rating and set a $230.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 4th. Wedbush assumed coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They set an "outperform" rating on the stock. Finally, BTIG Research lowered shares of Palantir Technologies to a "neutral" rating in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $192.19.

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.

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