Econ Financial Services Corp Buys New Shares in Palantir Technologies Inc. $PLTR

Key Points

• Econ Financial Services Corp disclosed a new first-quarter stake in Palantir Technologies, buying 10,608 shares valued at about $1.55 million.
• Institutional ownership in Palantir remains heavy, with major investors like Norges Bank, State Street, and others adding to positions; hedge funds and institutions now own 45.65% of the stock.
• Palantir’s latest earnings topped expectations, with $0.33 EPS versus $0.28 expected and revenue up 84.7% year over year, even as analysts remain mixed with a consensus rating of “Moderate Buy”.

Econ Financial Services Corp acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,608 shares of the company's stock, valued at approximately $1,552,000.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Palantir Technologies during the 4th quarter worth approximately $5,149,641,000. State Street Corp boosted its holdings in shares of Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company's stock valued at $18,471,648,000 after acquiring an additional 6,777,771 shares during the last quarter. Cardano Risk Management B.V. increased its stake in shares of Palantir Technologies by 917.4% in 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 acquiring an additional 5,938,343 shares during the period. Corient Private Wealth LLC increased its stake in shares of Palantir Technologies by 1,449.7% in the fourth quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company's stock worth $937,205,000 after acquiring an additional 4,932,364 shares during the period. Finally, Amundi increased its stake in shares of Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company's stock worth $2,814,879,000 after acquiring an additional 4,373,201 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jeffrey Buckley sold 1,481 shares of Palantir Technologies stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the transaction, the insider owned 60,226 shares in the company, valued at $7,757,108.80. The trade was a 2.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of Palantir Technologies stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.00, for a total value of $255,680.00. Following the completion of the transaction, the director owned 55,022 shares of the company's stock, valued at approximately $8,803,520. This represents a 2.82% 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. Over the last three months, insiders sold 927,270 shares of company stock worth $126,197,785. 9.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on PLTR shares. Phillip Securities boosted their target price on shares of Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Royal Bank Of Canada reaffirmed an "underperform" rating and set a $90.00 price target on shares of Palantir Technologies in a research report on Tuesday, May 5th. Argus upgraded Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a research note on Wednesday, May 6th. Oppenheimer assumed coverage on Palantir Technologies in a report on Thursday, April 30th. They issued an "outperform" rating and a $200.00 price objective for the company. Finally, Benchmark downgraded Palantir Technologies to a "hold" rating in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of "Moderate Buy" and an average target price of $192.76.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $112.93 on Friday. The company has a market capitalization of $270.73 billion, a PE ratio of 126.89, a price-to-earnings-growth ratio of 1.73 and a beta of 1.53. The company's fifty day moving average price is $135.96 and its 200 day moving average price is $150.44. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The firm's revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share. On average, equities analysts expect that Palantir Technologies Inc. will post 1.16 EPS for the current year.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: ARK Invest reportedly bought about $3.3 million of Palantir shares, helping fuel “buy the dip” interest after the stock hit 52-week lows. Why Is Palantir Stock Surging On Friday?
• Positive Sentiment: Wedbush and other bullish commentators argued the recent tech selloff is a buying opportunity, saying investors still underestimate Palantir’s role in enterprise AI. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: New growth catalysts were highlighted from Palantir’s partnerships with Zeta Global and the U.S. Army, reinforcing demand for its software platform. Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
• Positive Sentiment: Several articles pointed out that PLTR has become one of the most oversold mega-cap tech names, suggesting the stock may be stretched too far to the downside. Palantir Becomes Most Oversold Mega-Cap Tech Stock
• Neutral Sentiment: Palantir’s recent rebound also came as software stocks outperformed semiconductors, reflecting a broader sector rotation rather than a company-specific breakthrough. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Negative Sentiment: Despite the bounce, Palantir is still under pressure from a broad AI/software selloff, concerns about rich valuation, and fear that expectations ran ahead of fundamentals. Why Palantir Stock Soared Today
• Negative Sentiment: Bearish coverage also continued, including a Seeking Alpha piece on “accelerating AI risks,” underscoring investor worries about competition and the sustainability of Palantir’s premium multiple. Palantir: Accelerating AI Risks

Palantir Technologies 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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