Diversified Trust Co Acquires 25,303 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Diversified Trust Co. nearly doubled its Palantir stake in the third quarter, adding 25,303 shares to hold 50,790 shares worth about $9.5 million.
• Analyst sentiment is broadly positive: Palantir has a consensus “Moderate Buy” rating and an average price target of $216.20, though some coverage flags valuation concerns.
• Palantir beat quarterly estimates, reporting EPS of $0.44 versus $0.41 expected and revenue of $2.31 billion versus $2.18 billion expected; revenue rose 95.9% year over year.

Diversified Trust Co lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 99.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,790 shares of the company's stock after buying an additional 25,303 shares during the quarter. Diversified Trust Co's holdings in Palantir Technologies were worth $9,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLTR. BlackRock Inc. grew its holdings in Palantir Technologies by 0.4% during the 2nd quarter. BlackRock Inc. now owns 189,817,693 shares of the company's stock worth $22,146,030,000 after acquiring an additional 757,322 shares during the last quarter. State Street Corp raised its stake in shares of Palantir Technologies by 2.8% in the second quarter. State Street Corp now owns 104,490,468 shares of the company's stock worth $12,190,903,000 after acquiring an additional 2,863,874 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Palantir Technologies by 28.7% in the first quarter. Bank of America Corp DE now owns 18,839,779 shares of the company's stock worth $2,755,883,000 after acquiring an additional 4,201,852 shares during the last quarter. Amundi raised its stake in shares of Palantir Technologies by 2.5% in the first quarter. Amundi now owns 16,410,400 shares of the company's stock worth $2,400,513,000 after acquiring an additional 398,093 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Palantir Technologies during the first quarter worth approximately $1,574,111,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Palantir Technologies in a research report on Tuesday, August 4th. They set a "buy" rating on the stock. Morgan Stanley raised their price target on shares of Palantir Technologies from $205.00 to $233.00 and gave the company a "buy" rating in a report on Tuesday, November 3rd. UBS Group restated a "buy" rating on shares of Palantir Technologies in a research report on Tuesday, November 3rd. DA Davidson reaffirmed a "buy" rating and set a $250.00 price objective on shares of Palantir Technologies in a report on Tuesday, November 3rd. Finally, Cantor Fitzgerald upped their price objective on Palantir Technologies from $156.00 to $207.00 and gave the stock a "neutral" rating in a report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $216.20.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 18,000 shares of Palantir Technologies stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $201.15, for a total transaction of $3,620,700.00. Following the completion of the sale, the insider owned 274,667 shares of the company's stock, valued at approximately $55,249,267.05. The trade was a 6.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 2,055 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $174.83, for a total transaction of $359,275.65. Following the sale, the insider owned 58,171 shares of the company's stock, valued at $10,170,035.93. The trade was a 3.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 908,396 shares of company stock valued at $157,146,307 over the last three months. 9.53% of the stock is owned by insiders.

Latest Palantir Technologies News

Investors following PLTR have been watching these news items:

• Positive Sentiment: Recent commentary argues Palantir’s growth story remains strong, with its AI software helping drive substantial business momentum. This provides a fundamental counterpoint to the stock’s recent weakness. Article: Palantir: High-Quality Growth Should Never Be Cheap
• Negative Sentiment: Valuation is a key concern: bearish commentary says the share price leaves little room for error, even given Palantir’s exceptional business growth. Investors may be demanding continued rapid growth to justify the premium. Article: Palantir: Exceptional Business, Unjustifiable Price
• Negative Sentiment: ARK Invest reportedly trimmed its Palantir position while buying another AI-related stock. The move may reinforce concerns about investor rotation away from richly valued AI names, although it reflects one fund’s portfolio decision. Article: Cathie Wood Is Buying CoreWeave and Selling Palantir

Palantir Technologies Trading Down 2.1%

Palantir Technologies stock opened at $167.99 on Friday. The company has a market cap of $403.69 billion, a PE ratio of 117.48, a PEG ratio of 3.47 and a beta of 1.65. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $212.94. The company's 50-day moving average is $184.79 and its two-hundred day moving average is $153.82.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, November 2nd. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.41 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.18 billion. Palantir Technologies had a net margin of 50.34% and a return on equity of 30.49%. Palantir Technologies's revenue was up 95.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 EPS. Research analysts forecast that Palantir Technologies Inc. will post 1.36 EPS for the current year.

About Palantir Technologies

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company's platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.

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