Palantir Technologies Inc. $PLTR Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its Palantir stake by 140.8% in the first quarter, ending with 477,182 shares valued at about $69.8 million.
• Several other institutional investors also added to or initiated positions in PLTR, and institutions overall now own 45.65% of the company.
• Palantir continues to attract bullish attention on strong growth and AI demand, with analysts and reports highlighting 104% U.S. revenue growth, new customer wins, and multiple buy ratings despite valuation concerns.

Fifth Third Bancorp raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 140.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477,182 shares of the company's stock after purchasing an additional 279,037 shares during the quarter. Fifth Third Bancorp's holdings in Palantir Technologies were worth $69,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PLTR. Basepoint Wealth LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $29,000. Morton Brown Family Wealth LLC lifted 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 worth $31,000 after acquiring an additional 125 shares in the last quarter. Cornerstone Financial Management LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $31,000. Clayton Financial Group LLC boosted its holdings in Palantir Technologies by 500.0% in the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after acquiring an additional 150 shares during the period. Finally, Wexford Capital LP acquired a new stake in Palantir Technologies in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies News Summary

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

• Positive Sentiment: Palantir’s U.S. business is still expanding rapidly, with one article highlighting 104% U.S. revenue growth as a key bullish number to watch. Palantir's 104% U.S. Revenue Growth is the Key Number to Watch
• Positive Sentiment: Citi named PLTR one of its top three software stock picks for 2026, reinforcing Wall Street’s belief that Palantir remains a leading AI software name. Why Citi Picks PLTR, MDB, and SNOW as Its Top Three Software Stocks for 2026
• Positive Sentiment: Palantir landed a multiyear expansion with GNP Seguros, its first publicly disclosed commercial customer in Latin America, and finalized a deployment framework with Rackspace for regulated and sovereign environments. Palantir (PLTR) Lands First Latin America Commercial Customer With GNP And Rackspace
• Positive Sentiment: Multiple pieces note that Palantir continues to benefit from strong AI demand, a widening moat, and expectations for another strong earnings report. What to Expect From Palantir’s Q2 2026 Earnings Report
• Neutral Sentiment: Several articles framed PLTR as an expensive but high-quality AI stock, suggesting investors are focused less on the business itself and more on whether the valuation can support further upside. Palantir Stock Is Down 36% From Its All-Time High. Time to Buy?
• Negative Sentiment: One research note argued the recent bounce is not a buying opportunity, warning that Palantir’s valuation remains “nosebleed” territory compared with larger tech rivals. Palantir's Stock Has Bounced 23% Off Its Low— One Research Firm Says That's the Trap: 'We Still Won't Buy It'
• Negative Sentiment: Another article pointed out that PLTR remains far below its peak, with investors questioning whether the strong growth is enough to justify the current price. Can Palantir Stock Reach $200 in 2026?

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the transaction, the insider directly owned 6,432,258 shares in the company, valued at $875,044,378.32. This represents a 5.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the transaction, the insider directly owned 199,759 shares of the company's stock, valued at approximately $27,175,214.36. This represents a 8.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,112,270 shares of company stock worth $150,247,785 over the last ninety days. Insiders own 9.53% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PLTR. Citigroup lifted their price objective on shares of Palantir Technologies from $210.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Argus upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a research note on Wednesday, May 6th. President Capital raised shares of Palantir Technologies from a "neutral" rating to a "buy" rating and raised their price target for the company from $25.50 to $133.00 in a report on Monday, June 29th. Wedbush began coverage on shares of Palantir Technologies in a research note on Tuesday, June 16th. They set an "outperform" rating on the stock. Finally, UBS Group upgraded shares of Palantir Technologies from a "buy" rating to a "buy" rating in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $190.85.

Palantir Technologies Price Performance

PLTR stock opened at $126.79 on Monday. The stock's 50 day moving average is $132.58 and its two-hundred day moving average is $146.06. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $207.52. The company has a market capitalization of $303.96 billion, a PE ratio of 142.46, a P/E/G ratio of 2.03 and a beta of 1.56.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. During the same period in the prior year, the business posted $0.13 EPS. The business's revenue was up 84.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 1.17 EPS for the current year.

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.

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.