Texas Capital Bank Wealth Management Services Inc Buys 19,954 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Texas Capital Bank Wealth Management Services Inc boosted its Palantir stake by 636.7% in the fourth quarter, buying 19,954 shares to bring its total to 23,088 shares valued at about $4.1 million.
• Palantir continues to attract major institutional ownership, with firms like Vanguard, State Street, Amundi, and Wellington adding shares; overall, 45.65% of the stock is held by institutional investors.
• The company recently beat earnings expectations, reporting $0.33 EPS on $1.63 billion in revenue, while analysts currently rate the stock a Moderate Buy with an average price target of $192.76.

Texas Capital Bank Wealth Management Services Inc increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 636.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,088 shares of the company's stock after buying an additional 19,954 shares during the quarter. Texas Capital Bank Wealth Management Services Inc's holdings in Palantir Technologies were worth $4,104,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PLTR. Vanguard Group Inc. lifted its position in Palantir Technologies by 4.0% in the third quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company's stock worth $39,017,133,000 after buying an additional 8,168,604 shares during the last quarter. State Street Corp lifted its position in Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company's stock worth $18,471,648,000 after buying an additional 6,777,771 shares during the last quarter. Amundi lifted its position in Palantir Technologies by 38.7% in the third quarter. Amundi now owns 15,679,158 shares of the company's stock worth $2,814,879,000 after buying an additional 4,373,201 shares during the last quarter. Wellington Management Group LLP lifted its position in Palantir Technologies by 228.0% in the third quarter. Wellington Management Group LLP now owns 5,182,560 shares of the company's stock worth $945,403,000 after buying an additional 3,602,471 shares during the last quarter. Finally, Clear Street Group Inc. bought a new stake in Palantir Technologies in the third quarter worth $408,763,000. 45.65% of the stock is currently owned by institutional investors.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Several articles highlighted Palantir’s strong AI momentum and enterprise adoption, arguing the recent pullback could be a buying opportunity as demand for its AI Platform remains strong. Palantir Stock Is Down 34% from Its Highs. Don’t Miss This Chance to Buy the Dip.
• Positive Sentiment: Analyst-style coverage also noted Palantir’s growing government and enterprise traction, with some comparisons favoring PLTR over other AI-first software names. Palantir vs. UiPath: Which AI-First Software Stock is a Buy?
• Positive Sentiment: Some coverage said Palantir is still not showing enough evidence for a bearish case, implying the selloff may be overdone relative to the company’s operating performance. Palantir: Still Not Enough Evidence For A Sell Case Here

Insider Activity

In other news, insider Stephen Andrew Cohen sold 319,934 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 $43,523,821.36. Following the transaction, the insider owned 592 shares in the company, valued at approximately $80,535.68. This trade represents a 99.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $2,330,093.12. Following the transaction, the insider owned 375,242 shares in the company, valued at approximately $51,047,921.68. This represents a 4.37% decrease in their position. 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. In the last 90 days, insiders have sold 922,524 shares of company stock valued at $125,501,302. Company insiders own 9.53% of the company's stock.

Palantir Technologies Trading Down 3.0%

Shares of Palantir Technologies stock opened at $132.51 on Thursday. The firm has a market cap of $317.67 billion, a P/E ratio of 148.89, a P/E/G ratio of 2.17 and a beta of 1.52. Palantir Technologies Inc. has a 12 month low of $118.93 and a 12 month high of $207.52. The stock's fifty day moving average price is $141.86 and its 200-day moving average price is $156.37.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly 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. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The business's revenue for the quarter was up 84.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share. Analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of analyst reports. Freedom Capital upgraded Palantir Technologies from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, February 13th. Piper Sandler reiterated an "overweight" rating and issued a $230.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 3rd. HSBC lowered Palantir Technologies from a "buy" rating to a "hold" rating and reduced their target price for the stock from $205.00 to $151.00 in a research note on Friday, May 1st. Royal Bank Of Canada reiterated an "underperform" rating and issued a $90.00 target price on shares of Palantir Technologies in a research note on Tuesday, May 5th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $138.00 target price on shares of Palantir Technologies in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $192.76.

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.