Keybank National Association OH Acquires 6,187 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Keybank National Association OH increased its Palantir stake by 18.9% in the third quarter, adding 6,187 shares to hold 38,856 shares valued at about $7.27 million.
• Palantir reported quarterly EPS of $0.44 and revenue of $2.31 billion, beating analyst estimates; revenue rose 95.9% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $216.76, while company insiders sold 523,716 shares worth about $92.2 million during the latest quarter.

Keybank National Association OH raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 18.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,856 shares of the company's stock after purchasing an additional 6,187 shares during the period. Keybank National Association OH's holdings in Palantir Technologies were worth $7,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Triton Wealth Management PLLC grew its holdings in Palantir Technologies by 15.4% during the 3rd quarter. Triton Wealth Management PLLC now owns 4,353 shares of the company's stock worth $748,000 after acquiring an additional 581 shares in the last quarter. D Orazio & Associates Inc. increased its position in shares of Palantir Technologies by 9.0% in the 3rd quarter. D Orazio & Associates Inc. now owns 4,222 shares of the company's stock worth $790,000 after purchasing an additional 348 shares during the last quarter. Account Management LLC acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at about $1,440,000. New York Life Investment Management LLC raised its stake in shares of Palantir Technologies by 14.0% in the 3rd quarter. New York Life Investment Management LLC now owns 365,072 shares of the company's stock valued at $68,287,000 after purchasing an additional 44,848 shares in the last quarter. Finally, 71 West Capital Partners raised its stake in shares of Palantir Technologies by 4.9% in the 3rd quarter. 71 West Capital Partners now owns 38,930 shares of the company's stock valued at $7,282,000 after purchasing an additional 1,804 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jeffrey Buckley sold 1,250 shares of the business's stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $174.29, for a total transaction of $217,862.50. Following the completion of the transaction, the insider owned 56,921 shares in the company, valued at $9,920,761.09. The trade was a 2.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Friedman Stat sold 1,358 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $186.29, for a total value of $252,981.82. Following the transaction, the director owned 45,044 shares of the company's stock, valued at $8,391,246.76. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 523,716 shares of company stock worth $92,212,379. 9.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PLTR shares. William Blair reiterated an "outperform" rating on shares of Palantir Technologies in a research note on Wednesday, August 26th. Truist Financial reissued a "buy" rating and issued a $250.00 price objective (up from $223.00) on shares of Palantir Technologies in a report on Tuesday, November 3rd. Cantor Fitzgerald upped their price objective on Palantir Technologies from $156.00 to $207.00 and gave the company a "neutral" rating in a research note on Monday, November 2nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $260.00 target price on shares of Palantir Technologies in a report on Tuesday, November 3rd. Finally, Robert W. Baird set a $250.00 price target on Palantir Technologies in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.76.

Palantir Technologies Stock Down 0.5%

Shares of NASDAQ PLTR opened at $171.58 on Friday. The firm's 50-day moving average price is $185.08 and its two-hundred day moving average price is $153.81. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $212.94. The stock has a market capitalization of $412.32 billion, a P/E ratio of 119.99, a P/E/G ratio of 3.48 and a beta of 1.65.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.03. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.18 billion. Palantir Technologies had a return on equity of 30.49% and a net margin of 50.34%. Palantir Technologies's quarterly revenue was up 95.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, equities research analysts expect that Palantir Technologies Inc. will post 1.36 earnings per share for the current year.

More Palantir Technologies News

Investors following PLTR have been watching these news items:

• Neutral Sentiment: CEO Alex Karp’s comments emphasizing the role of U.S. military support in Silicon Valley’s development reinforce Palantir’s government and defense positioning, but the article does not report a new contract or financial impact. Article: Palantir CEO Alex Karp Says Silicon Valley ‘Would Not Even Exist’ Without US Military Support
• Negative Sentiment: Valuation is another headwind: several reports argue that even rapid growth may not justify the stock’s high price, leaving little room for disappointment. Rising dilution is also cited as a concern. Article: Palantir Grew Revenue 96%. The Stock Fell 5%.
• Negative Sentiment: European defense contractor Helsing introduced its Clarity AI platform, which is being trialed by Germany’s military and designed around European sovereignty requirements. It could challenge Palantir for some defense AI business in Europe. Article: Palantir (PLTR) Faces A European Rival In Defense AI

About Palantir Technologies

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company's platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.

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