Palantir Technologies Inc. $PLTR Shares Bought by Washington Trust Bank

Key Points

• Washington Trust Bank increased its Palantir stake by 14.4% in the fourth quarter, adding 14,322 shares and bringing its total holding to 113,742 shares valued at about $20.2 million.
• Several other institutional investors also boosted their positions, and overall institutional ownership of Palantir stands at 45.65% of the stock.
• Palantir posted a strong quarter, with earnings of $0.33 per share and revenue of $1.63 billion, both topping analyst estimates, though the stock remains under pressure from valuation concerns.

Washington Trust Bank grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 113,742 shares of the company's stock after purchasing an additional 14,322 shares during the period. Palantir Technologies makes up approximately 1.4% of Washington Trust Bank's investment portfolio, making the stock its 19th largest holding. Washington Trust Bank's holdings in Palantir Technologies were worth $20,218,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Rinkey Investments increased its holdings in shares of Palantir Technologies by 5.4% during the fourth quarter. Rinkey Investments now owns 2,092 shares of the company's stock valued at $372,000 after purchasing an additional 108 shares during the period. Money Concepts Capital Corp increased its holdings in shares of Palantir Technologies by 1.4% during the fourth quarter. Money Concepts Capital Corp now owns 52,447 shares of the company's stock valued at $9,322,000 after purchasing an additional 744 shares during the period. Tsfg LLC increased its holdings in shares of Palantir Technologies by 1.6% during the fourth quarter. Tsfg LLC now owns 6,238 shares of the company's stock valued at $1,109,000 after purchasing an additional 100 shares during the period. Concentrum Wealth Management increased its holdings in shares of Palantir Technologies by 9.8% during the fourth quarter. Concentrum Wealth Management now owns 2,164 shares of the company's stock valued at $385,000 after purchasing an additional 194 shares during the period. Finally, Strategic Planning Group LLC increased its holdings in shares of Palantir Technologies by 6.2% during the fourth quarter. Strategic Planning Group LLC now owns 48,016 shares of the company's stock valued at $8,535,000 after purchasing an additional 2,809 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 19,988 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $133.72, for a total value of $2,672,795.36. Following the completion of the transaction, the insider owned 219,421 shares in the company, valued at $29,340,976.12. This trade represents a 8.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 327,088 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $43,738,207.36. Following the completion of the transaction, the insider owned 592 shares of the company's stock, valued at $79,162.24. This trade represents a 99.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,029,479 shares of company stock worth $137,685,797 over the last three months. Company insiders own 9.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLTR. Loop Capital lowered their price target on Palantir Technologies from $230.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Wedbush reaffirmed an "outperform" rating and set a $230.00 target price on shares of Palantir Technologies in a research note on Tuesday, May 5th. Benchmark initiated coverage on Palantir Technologies in a research note on Wednesday, April 1st. They set a "hold" rating for the company. Robert W. Baird raised Palantir Technologies from a "neutral" rating to an "outperform" rating and set a $200.00 target price for the company in a research note on Tuesday, February 3rd. Finally, Mizuho decreased their target price on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a research note on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $195.16.

Palantir Technologies Stock Down 0.7%

Shares of PLTR stock opened at $136.89 on Tuesday. The stock has a 50-day simple moving average of $145.60 and a 200 day simple moving average of $160.97. Palantir Technologies Inc. has a fifty-two week low of $115.01 and a fifty-two week high of $207.52. The stock has a market capitalization of $327.40 billion, a P/E ratio of 153.81, a P/E/G ratio of 2.19 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the company posted $0.13 EPS. Palantir Technologies's revenue for the quarter was up 84.7% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

More Palantir Technologies News

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

• Positive Sentiment: Phillip Securities raised its price target on Palantir and maintained a Buy rating, reflecting confidence in the company’s post-earnings momentum and AI traction.
• Positive Sentiment: Argus upgraded Palantir to Buy and cited accelerating revenue growth and stronger operating margins after the Q1 results.
• Positive Sentiment: Several reports said Palantir’s demand is far outpacing supply, suggesting continued strong customer interest in its AI software platform. Article Title
• Neutral Sentiment: Coverage framed Palantir as a long-term growth story, with analysts and commentators arguing the company’s AI platform is transforming defense, healthcare, and logistics.
• Negative Sentiment: Despite strong earnings, the stock has struggled because valuation concerns remain high and investors appear unconvinced the current growth rate fully supports the premium multiple.
• Negative Sentiment: Renewed scrutiny over NHS data access could create reputational and regulatory overhang for Palantir. Article Title

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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