Greenfield Savings Bank Buys New Shares in Palantir Technologies Inc. $PLTR

Key Points

• Greenfield Savings Bank acquired 1,473 shares of Palantir Technologies during the 2nd quarter, valued at approximately $201,000.
• Palantir reported a 48.0% year-over-year increase in revenue for the last quarter, totaling $1 billion, and earnings per share of $0.16, exceeding analysts' expectations.
• Institutional ownership in Palantir Technologies stands at 45.65%, with several major firms, including Goldman Sachs and Invesco, increasing their stakes during the 1st quarter.

Greenfield Savings Bank acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,473 shares of the company's stock, valued at approximately $201,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Northern Trust Corp increased its position in shares of Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after acquiring an additional 64,973 shares during the last quarter. Invesco Ltd. increased its position in shares of Palantir Technologies by 20.3% in the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after acquiring an additional 2,998,716 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after acquiring an additional 4,221,392 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 4.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after acquiring an additional 571,544 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after acquiring an additional 4,748,513 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on PLTR. DA Davidson set a $170.00 price target on shares of Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on shares of Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Piper Sandler set a $182.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and raised their target price for the stock from $80.00 to $160.00 in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald raised their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $138.28.

Insider Transactions at Palantir Technologies

In other news, insider David A. Glazer sold 81,000 shares of the business's stock in a transaction that occurred 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 owned 431,169 shares in the company, valued at approximately $66,602,675.43. The trade was a 15.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the transaction, the insider owned 702,786 shares in the company, valued at $106,261,243.20. This trade represents a 34.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,625,634 shares of company stock worth $248,926,404. Company insiders own 9.23% of the company's stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded down $1.01 during midday trading on Tuesday, hitting $170.21. 30,105,595 shares of the company traded hands, compared to its average volume of 89,287,055. The stock has a market cap of $403.78 billion, a price-to-earnings ratio of 567.37, a PEG ratio of 9.66 and a beta of 2.59. The firm's fifty day moving average price is $160.71 and its 200-day moving average price is $128.03. Palantir Technologies Inc. has a 12 month low of $35.71 and a 12 month high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $939.29 million. During the same period in the previous year, the firm posted $0.09 EPS. The company's revenue for the quarter was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies Profile

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.