Fifth Third Wealth Advisors LLC Increases Position in Palantir Technologies Inc. $PLTR

Fifth Third Wealth Advisors LLC lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 85,516 shares of the company’s stock after buying an additional 3,917 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Palantir Technologies were worth $9,977,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after purchasing an additional 1,557,828 shares during the last quarter. State Street Corp lifted its holdings in shares of Palantir Technologies by 1.1% during the fourth quarter. State Street Corp now owns 102,385,317 shares of the company’s stock worth $18,198,990,000 after purchasing an additional 1,126,418 shares during the period. Geode Capital Management LLC grew its position in Palantir Technologies by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 54,200,265 shares of the company’s stock valued at $9,599,882,000 after buying an additional 805,047 shares during the last quarter. Norges Bank acquired a new position in Palantir Technologies in the 4th quarter valued at $5,149,641,000. Finally, Invesco Ltd. raised its position in Palantir Technologies by 2.8% during the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock worth $3,984,281,000 after buying an additional 616,297 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Down 2.8%

Shares of NASDAQ PLTR opened at $174.04 on Friday. The stock has a market capitalization of $418.23 billion, a price-to-earnings ratio of 148.75, a price-to-earnings-growth ratio of 2.48 and a beta of 1.59. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52. The firm has a 50-day moving average price of $134.60 and a 200 day moving average price of $140.15.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was up 92.8% compared to the same quarter last year. Equities research analysts expect that Palantir Technologies Inc. will post 1.26 EPS for the current fiscal year.

Palantir Technologies News Roundup

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 Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,032 shares of the business’s stock in a transaction on 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 directly 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 can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,481 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the sale, the insider directly owned 60,226 shares in the company, valued at $7,757,108.80. This trade represents a 2.40% decrease in their position. 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 worth $156,197,565 over the last quarter. Insiders own 9.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Palantir Technologies in a report on Tuesday, August 4th. They issued a “buy” rating on the stock. BTIG Research downgraded shares of Palantir Technologies to a “neutral” rating in a research report on Tuesday, June 16th. William Blair began coverage on Palantir Technologies in a report on Tuesday, August 4th. They issued a “neutral” rating on the stock. Benchmark reiterated a “hold” rating on shares of Palantir Technologies in a research report on Tuesday, August 4th. Finally, Roth Capital initiated coverage on Palantir Technologies in a research note on Tuesday, August 4th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $192.19.

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.