Fifth Third Wealth Advisors LLC Raises Position in Palantir Technologies Inc. $PLTR

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in Palantir Technologies Inc. by 98.1%, owning 51,360 shares valued at $7,001,000 as of its latest filing.
• Insider Shyam Sankar sold 375,000 shares for $56.7 million, marking a 34.79% decrease in his position, while insider Ryan D. Taylor sold 36,048 shares for approximately $5.7 million.
• Palantir reported a 48% year-over-year revenue increase in its latest quarterly earnings, with a net revenue of $1 billion exceeding analyst estimates.

Fifth Third Wealth Advisors LLC boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 98.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,360 shares of the company's stock after buying an additional 25,430 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Palantir Technologies were worth $7,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PLTR. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Palantir Technologies in the second quarter valued at about $2,543,888,000. Nuveen LLC purchased a new stake in shares of Palantir Technologies during the first quarter valued at approximately $520,232,000. Price T Rowe Associates Inc. MD increased its holdings in Palantir Technologies by 55.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after buying an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares during the last quarter. Finally, Amundi increased its stake in shares of Palantir Technologies by 56.1% during the 1st quarter. Amundi now owns 10,620,301 shares of the company's stock worth $887,857,000 after purchasing an additional 3,815,386 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares of the company's stock, valued at $106,261,243.20. The trade was a 34.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the transaction, the insider directly owned 307,470 shares of the company's stock, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,591,085 shares of company stock valued at $244,714,146 in the last ninety days. Insiders own 9.23% of the company's stock.

Palantir Technologies Price Performance

PLTR opened at $175.44 on Friday. The company has a fifty day moving average price of $171.32 and a 200-day moving average price of $139.72. The firm has a market capitalization of $416.20 billion, a P/E ratio of 584.82, a price-to-earnings-growth ratio of 10.05 and a beta of 2.60. Palantir Technologies Inc. has a one year low of $40.36 and a one year high of $190.00.

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, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $939.29 million. During the same period in the previous year, the business earned $0.09 EPS. The business's revenue for the quarter was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent research reports. Citigroup reissued a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Loop Capital lifted their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Mizuho set a $165.00 price objective on shares of Palantir Technologies in a research note on Monday, September 15th. Five analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $140.22.

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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