Huntington National Bank Grows Stake in Palantir Technologies Inc. $PLTR

Huntington National Bank raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 447,322 shares of the company's stock after purchasing an additional 48,127 shares during the quarter. Huntington National Bank's holdings in Palantir Technologies were worth $79,512,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bare Financial Services Inc raised its position in Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company's stock valued at $28,000 after purchasing an additional 55 shares during the period. United Financial Planning Group LLC purchased a new position in Palantir Technologies in the third quarter valued at about $32,000. Morton Brown Family Wealth LLC raised its position in Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after purchasing an additional 125 shares during the period. Clayton Financial Group LLC raised its position in Palantir Technologies by 500.0% in the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Wexford Capital LP purchased a new position in Palantir Technologies in the third quarter valued at about $36,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $132.51 on Thursday. Palantir Technologies Inc. has a 1 year low of $118.93 and a 1 year high of $207.52. The firm has a market cap of $317.67 billion, a price-to-earnings ratio of 148.89, a PEG ratio of 2.17 and a beta of 1.52. The stock's 50-day simple moving average is $141.86 and its 200-day simple moving average is $156.37.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the company earned $0.13 earnings per share. The company's revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, research analysts predict that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Citigroup raised their price objective on Palantir Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Daiwa Securities Group raised Palantir Technologies from a "neutral" rating to a "buy" rating and set a $180.00 price objective on the stock in a research report on Tuesday, February 10th. William Blair raised Palantir Technologies from a "market perform" rating to an "outperform" rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $200.00 price objective on shares of Palantir Technologies in a research report on Tuesday, February 3rd. Finally, DA Davidson dropped their target price on Palantir Technologies from $180.00 to $165.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $192.76.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 19,662 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,674,818.48. Following the completion of the sale, the insider directly owned 199,759 shares of the company's stock, valued at $27,175,214.36. The trade was a 8.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the completion of the sale, the insider directly owned 592 shares of the company's stock, valued at approximately $80,535.68. This represents a 99.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 922,524 shares of company stock valued at $125,501,302 over the last 90 days. Corporate insiders own 9.53% of the company's stock.

Palantir Technologies News Summary

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

• Positive Sentiment: Several articles highlighted Palantir’s strong AI momentum and enterprise adoption, arguing the recent pullback could be a buying opportunity as demand for its AI Platform remains strong. Palantir Stock Is Down 34% from Its Highs. Don’t Miss This Chance to Buy the Dip.
• Positive Sentiment: Analyst-style coverage also noted Palantir’s growing government and enterprise traction, with some comparisons favoring PLTR over other AI-first software names. Palantir vs. UiPath: Which AI-First Software Stock is a Buy?
• Positive Sentiment: Some coverage said Palantir is still not showing enough evidence for a bearish case, implying the selloff may be overdone relative to the company’s operating performance. Palantir: Still Not Enough Evidence For A Sell Case Here

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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