Westpac Banking Corp Grows Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Westpac Banking Corp raised its Palantir stake by 25.7% in Q3 to 38,663 shares, valuing the position at about $7.05 million as of the latest 13F filing.
• Heavy insider selling has occurred recently—Stephen A. Cohen alone sold 327,088 shares for ~$43.7 million, and insiders disposed of about 1,054,279 shares (~$142.2 million) over the past three months, raising governance and confidence concerns.
• The analyst and market picture is mixed: the stock has an average rating of "Hold" with a $191.05 average target, even as positive catalysts like DISA IL‑6 authorization and a GE Aerospace partnership have boosted sentiment.

Westpac Banking Corp lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 25.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,663 shares of the company's stock after acquiring an additional 7,909 shares during the period. Westpac Banking Corp's holdings in Palantir Technologies were worth $7,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Occidental Asset Management LLC increased its holdings in Palantir Technologies by 2.8% in the 3rd quarter. Occidental Asset Management LLC now owns 1,964 shares of the company's stock valued at $358,000 after purchasing an additional 53 shares in the last quarter. Gallacher Capital Management LLC boosted its position in shares of Palantir Technologies by 2.2% in the third quarter. Gallacher Capital Management LLC now owns 2,452 shares of the company's stock worth $447,000 after buying an additional 53 shares during the period. Lionshead Wealth Management LLC grew its stake in shares of Palantir Technologies by 0.4% in the third quarter. Lionshead Wealth Management LLC now owns 13,130 shares of the company's stock valued at $2,395,000 after buying an additional 56 shares in the last quarter. Ellenbecker Investment Group grew its stake in shares of Palantir Technologies by 3.6% in the third quarter. Ellenbecker Investment Group now owns 1,619 shares of the company's stock valued at $295,000 after buying an additional 57 shares in the last quarter. Finally, Traveka Wealth LLC lifted its position in Palantir Technologies by 1.6% during the 3rd quarter. Traveka Wealth LLC now owns 3,695 shares of the company's stock worth $674,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent research reports. Daiwa Securities Group raised shares of Palantir Technologies from a "neutral" rating to a "buy" rating and set a $180.00 price objective for the company in a research report on Tuesday, February 10th. UBS Group decreased their target price on shares of Palantir Technologies from $205.00 to $180.00 and set a "neutral" rating for the company in a research note on Tuesday, February 3rd. Morgan Stanley lifted their price target on shares of Palantir Technologies from $155.00 to $205.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 4th. Zacks Research lowered shares of Palantir Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, January 30th. Finally, Bank of America upped their price objective on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $191.05.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 327,088 shares of Palantir Technologies stock in a transaction that occurred on Friday, February 20th. The stock was 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 in the company, valued at approximately $79,162.24. This trade represents a 99.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Buckley sold 1,232 shares of the business's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $129.08, for a total value of $159,026.56. Following the completion of the sale, the insider owned 43,108 shares of the company's stock, valued at $5,564,380.64. This trade represents a 2.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,054,279 shares of company stock valued at $142,212,233 over the last three months. Company insiders own 9.23% of the company's stock.

Palantir Technologies News Summary

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

• Positive Sentiment: DISA granted Palantir Impact Level‑6 provisional authorization, allowing Palantir’s stack to run in the most sensitive DoD cloud/edge environments — expands addressable DoD opportunity and supports defense revenue durability. Read More.
• Positive Sentiment: Palantir announced a GE Aerospace partnership to support a Defense Logistics Agency contract (supply‑chain/fleet optimization for J85 engines) — a concrete, revenue‑bearing use of Palantir’s AI for defense customers. Read More.
• Positive Sentiment: Analyst bullishness: Mizuho upgraded/endorsed Palantir as a “category of one,” and several boutiques raised targets — analyst upgrades can lift sentiment and buying flows after recent weakness. Read More.
• Positive Sentiment: Nvidia CEO remarks and broad AI optimism are lifting AI platform names (tailwind for Palantir’s AIP adoption narrative). Positive industry headlines can re‑rate software multiple expansion expectations. Read More.
• Neutral Sentiment: Commercial partnerships (e.g., Rackspace) and strong earnings/growth writeups reinforce the long‑term story, but analysts remain split on valuation — supportive for holders, less decisive for near‑term direction. Read More.
• Neutral Sentiment: Options/strategy pieces (selling puts, protective trades) reflect increased trader interest and higher implied volatility — useful for income/hedge-oriented investors but not a directional fundamental change. Read More.
• Negative Sentiment: Heavy insider selling disclosed this week — multiple senior execs (including Alex Karp, S. Cohen, Shyam Sankar and others) executed large block sales, raising governance and confidence concerns among investors. Read More.
• Negative Sentiment: Governance/legal/valuation headwinds: Michael Burry’s public bearish stance, congressional trading scrutiny and articles citing a large pullback (35–38%) are amplifying fear and triggering technical selling in a high‑beta stock. Read More.
• Negative Sentiment: Reported well‑timed congressional/representative stock sales are drawing scrutiny (suspicious timing headlines) that can exacerbate short‑term volatility and investor caution. Read More.

Palantir Technologies Price Performance

PLTR opened at $134.19 on Thursday. Palantir Technologies Inc. has a 12-month low of $66.12 and a 12-month high of $207.52. The stock has a market capitalization of $319.83 billion, a PE ratio of 213.00, a P/E/G ratio of 2.48 and a beta of 1.64. The firm's fifty day moving average price is $161.79 and its 200 day moving average price is $170.49.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, February 2nd. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. Palantir Technologies had a net margin of 36.31% and a return on equity of 23.81%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm earned $0.14 EPS. The company's revenue was up 70.0% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal 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.

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