Fifth Third Bancorp Raises Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Fifth Third Bancorp has increased its stake in Palantir Technologies by 59.9%, owning 128,098 shares valued at approximately $17.5 million as of the last quarter.
• A significant number of institutional investors have altered their positions in Palantir, with 45.65% of shares currently held by these entities.
• Palantir reported a quarterly earnings of $0.16 EPS, surpassing expectations, alongside a revenue of $1 billion, marking a 48% year-over-year growth.

Fifth Third Bancorp raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 59.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,098 shares of the company's stock after buying an additional 48,002 shares during the quarter. Fifth Third Bancorp's holdings in Palantir Technologies were worth $17,462,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Revolve Wealth Partners LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at approximately $450,000. Bison Wealth LLC raised its holdings in shares of Palantir Technologies by 37.4% in the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company's stock valued at $1,296,000 after buying an additional 4,667 shares during the period. Two Sigma Investments LP lifted its stake in Palantir Technologies by 132.4% during the 4th quarter. Two Sigma Investments LP now owns 55,083 shares of the company's stock worth $4,166,000 after acquiring an additional 31,383 shares in the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new position in Palantir Technologies during the 4th quarter valued at about $210,000. Finally, BridgePort Financial Solutions LLC purchased a new stake in Palantir Technologies during the fourth quarter worth about $188,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a report on Tuesday. Wedbush set a $200.00 target price on Palantir Technologies and gave the company an "outperform" rating in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada lifted their price objective on Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their target price for the company from $80.00 to $160.00 in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $140.22.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $179.56 on Thursday. Palantir Technologies Inc. has a 1 year low of $36.05 and a 1 year high of $190.00. The firm has a market cap of $425.98 billion, a price-to-earnings ratio of 598.55, a PEG ratio of 10.29 and a beta of 2.59. The stock's 50-day moving average is $165.17 and its two-hundred day moving average is $131.89.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's revenue was up 48.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider directly owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $159.55, for a total transaction of $4,786,500.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company's stock, valued at $112,129,506.30. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,634,634 shares of company stock worth $250,524,804 over the last 90 days. 9.23% of the stock is owned by corporate insiders.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.

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