Palantir Technologies Inc. $PLTR Shares Acquired by Fifth Third Wealth Advisors LLC

Key Points

• Fifth Third Wealth Advisors increased its Palantir stake by 4.8% in the second quarter, buying 3,917 additional shares for a total of 85,516 shares valued at approximately $9.98 million.
• Palantir reported strong quarterly results, with revenue rising 92.8% year over year to $1.94 billion and EPS of $0.41, exceeding analyst estimates. Analysts maintain a “Moderate Buy” consensus with an average price target of $192.19.
• Valuation and selling activity remain risks: the stock trades at a P/E ratio near 149, while insiders sold more than 1.15 million shares worth $156.2 million over the past 90 days.

Fifth Third Wealth Advisors LLC lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,516 shares of the company's stock after purchasing an additional 3,917 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Palantir Technologies were worth $9,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Basepoint Wealth LLC purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $29,000. Morton Brown Family Wealth LLC increased its stake in shares of Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after buying an additional 125 shares during the period. Cornerstone Financial Management LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $31,000. Wexford Capital LP acquired a new stake in Palantir Technologies in the third quarter valued at approximately $36,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $35,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP), boot camps, and forward-deployed engineers are helping convert customers and expand commercial adoption. Analysts point to accelerating revenue growth, improving net dollar retention, and a fiscal-year Rule of 138.6% outlook as evidence that the company remains a leading AI growth story. Palantir: Winning AI Race With AIP and Forward Deployed Engineer Approach
• Positive Sentiment: Commentators continue to highlight Palantir’s strong second-quarter performance, including revenue growth of roughly 93%, an earnings beat, and higher guidance. The results have fueled bullish forecasts and reinforced the view that AIP could materially broaden Palantir’s enterprise customer base. Palantir’s $442 Billion Valuation Faces a Test
• Positive Sentiment: Investor Chamath Palihapitiya identified Palantir as a potential beneficiary of a shift toward model-agnostic AI, since customers may increasingly want software that works across multiple large-language-model providers. Chamath Palihapitiya Sees Palantir As a Potential Winner
• Neutral Sentiment: Palantir is being featured among major beneficiaries of rising demand for AI analytics and infrastructure, alongside Nvidia and Dell. The broader AI trade may support sentiment, although the article does not provide a new company-specific catalyst. Top Big Data Stocks Tapping the Surging Demand for AI Analytics
• Negative Sentiment: Valuation remains the key risk. With Palantir valued at more than $400 billion and trading at a very high earnings multiple, investors need continued exceptional growth for the stock to justify its price. That creates vulnerability to profit-taking even after strong results. Palantir’s $442 Billion Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares while reallocating funds to Cerebras Systems. The sale is modest relative to Palantir’s market value but may add to near-term selling pressure and raise questions about whether some investors are locking in gains. Cathie Wood Sells Palantir Stock After Blowout Earnings

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 3,032 shares of Palantir Technologies stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $165.00, for a total transaction of $500,280.00. Following the sale, the director owned 54,107 shares in the company, valued at approximately $8,927,655. The trade was a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 35,000 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $155.70, for a total value of $5,449,500.00. Following the completion of the sale, the insider directly owned 642,786 shares of the company's stock, valued at $100,081,780.20. The trade was a 5.16% decrease in their ownership of the stock. 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 sold 1,150,302 shares of company stock valued at $156,197,565 in the last ninety days. 9.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. BNP Paribas Exane assumed coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They issued an "underperform" rating for the company. Zacks Research upgraded shares of Palantir Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Mizuho lifted their price objective on shares of Palantir Technologies from $185.00 to $215.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 4th. DA Davidson boosted their target price on shares of Palantir Technologies from $175.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, August 4th. Finally, HSBC lowered Palantir Technologies from a "buy" rating to a "hold" rating and dropped their target price for the company from $205.00 to $151.00 in a report on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.19.

Palantir Technologies Trading Down 2.8%

PLTR stock opened at $174.04 on Friday. The stock has a market cap of $418.23 billion, a P/E ratio of 148.75, a PEG ratio of 2.48 and a beta of 1.59. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $207.52. The company's 50 day moving average is $134.60 and its two-hundred day moving average is $140.15.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The company's revenue for the quarter was up 92.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 EPS. On average, equities research analysts predict that Palantir Technologies Inc. will post 1.26 earnings per share for the current year.

Palantir Technologies Company 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source