Midwest Trust Co lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 116.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,408 shares of the company's stock after purchasing an additional 73,398 shares during the period. Midwest Trust Co's holdings in Palantir Technologies were worth $15,915,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of PLTR. Basepoint Wealth LLC bought a new position in Palantir Technologies in the fourth quarter worth about $29,000. Morton Brown Family Wealth LLC boosted its position in Palantir Technologies by 250.0% during the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock valued at $31,000 after acquiring an additional 125 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth approximately $31,000. Wexford Capital LP bought a new position in shares of Palantir Technologies in the 3rd quarter worth approximately $36,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Palantir Technologies in the 4th quarter worth approximately $35,000. Institutional investors own 45.65% of the company's stock.
Palantir Technologies Trading Down 0.6%
Shares of NASDAQ:PLTR opened at $171.54 on Wednesday. The stock has a fifty day simple moving average of $136.11 and a two-hundred day simple moving average of $140.11. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52. The stock has a market capitalization of $412.22 billion, a price-to-earnings ratio of 146.62, a PEG ratio of 2.48 and a beta of 1.59.
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%.The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.81 billion. During the same period in the prior year, the firm posted $0.16 earnings per share. The company's quarterly revenue was up 92.8% on a year-over-year basis. As a group, equities research analysts predict that Palantir Technologies Inc. will post 1.26 EPS for the current year.
Insider Buying and Selling
In related news, insider Shyam Sankar sold 150,000 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $130.00, for a total value of $19,500,000.00. Following the completion of the transaction, the insider directly owned 599,899 shares in the company, valued at $77,986,870. The trade was a 20.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,481 shares of Palantir Technologies stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the sale, the insider directly owned 60,226 shares of the company's stock, valued at approximately $7,757,108.80. The trade was a 2.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 228,608 shares of company stock worth $30,810,313 in the last quarter. Corporate insiders own 9.53% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on PLTR shares. Roth Capital began coverage on Palantir Technologies in a research report on Tuesday, August 4th. They set a "buy" rating on the stock. Oppenheimer downgraded Palantir Technologies from an "outperform" rating to a "market perform" rating in a report on Tuesday, August 4th. Zacks Research raised Palantir Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. UBS Group set a $215.00 target price on shares of Palantir Technologies in a report on Tuesday, August 11th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $230.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.19.
Get Our Latest Analysis on Palantir Technologies
More Palantir Technologies News
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Palantir’s latest quarterly results remain the primary bullish catalyst. Revenue increased roughly 93% year over year to $1.94 billion, while earnings exceeded analyst expectations, reinforcing confidence in demand for its AI software platforms. Q2 Earnings Season Standout Performers: PLTR, MSFT
- Positive Sentiment: Several bullish commentaries argue that Pentagon AI spending and continued commercial expansion could support further gains. One valuation analysis estimates the shares may still be modestly undervalued if defense-related momentum persists, while other analysts have upgraded their outlook after the strong earnings report. Palantir Stock May Be 9% Undervalued on Pentagon AI Momentum
- Neutral Sentiment: Long-term articles focus on whether Palantir can become a trillion-dollar company. That outcome would require the company to sustain very high growth for years, expand its customer base, and convert AI enthusiasm into durable profits; these are possibilities rather than near-term catalysts. Is Palantir the Next Trillion-Dollar Stock?
- Negative Sentiment: Valuation is the key headwind. Palantir is trading at extremely elevated earnings and sales multiples, prompting comparisons with software stocks that later experienced sharp corrections after reaching similar levels. Higher Treasury yields also make expensive, long-duration growth stocks less attractive. Palantir Trades at 74x Sales
- Negative Sentiment: Investor Michael Burry has reportedly renewed bearish put positions, citing Palantir’s valuation and stock-based compensation. Although this does not change the company’s fundamentals, it adds visibility to the bear case and may encourage profit-taking after the stock’s strong run. Michael Burry Is Betting Against Palantir Again
About Palantir Technologies
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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