Palantir Technologies Inc. $PLTR Stock Acquired by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 5.5% in the third quarter, Holdings Channel reports. The firm owned 488,508 shares of the company’s stock after purchasing an additional 25,275 shares during the period. Fifth Third Bancorp’s holdings in Palantir Technologies were worth $91,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PLTR. BlackRock Inc. raised its stake in shares of Palantir Technologies by 0.4% during the 2nd quarter. BlackRock Inc. now owns 189,817,693 shares of the company’s stock worth $22,146,030,000 after purchasing an additional 757,322 shares during the period. State Street Corp grew its position in Palantir Technologies by 2.8% during the second quarter. State Street Corp now owns 104,490,468 shares of the company’s stock valued at $12,190,903,000 after buying an additional 2,863,874 shares during the period. Bank of America Corp DE grew its position in Palantir Technologies by 1.0% during the second quarter. Bank of America Corp DE now owns 19,020,265 shares of the company’s stock valued at $2,219,094,000 after buying an additional 180,486 shares during the period. Amundi grew its position in Palantir Technologies by 7.4% during the second quarter. Amundi now owns 17,623,053 shares of the company’s stock valued at $2,056,082,000 after buying an additional 1,212,653 shares during the period. Finally, Jennison Associates LLC purchased a new stake in Palantir Technologies during the first quarter worth about $1,574,111,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Ryan Taylor sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $201.15, for a total value of $3,620,700.00. Following the sale, the insider owned 274,667 shares of the company’s stock, valued at $55,249,267.05. The trade was a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Friedman Stat sold 1,358 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $186.29, for a total transaction of $252,981.82. Following the sale, the director owned 45,044 shares in the company, valued at $8,391,246.76. The trade was a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 523,716 shares of company stock valued at $92,212,379. Corporate insiders own 9.53% of the company’s stock.

Palantir Technologies News Roundup

Investors following PLTR have been watching these news items:

• Neutral Sentiment: CEO Alex Karp’s comments emphasizing the role of U.S. military support in Silicon Valley’s development reinforce Palantir’s government and defense positioning, but the article does not report a new contract or financial impact. Article: Palantir CEO Alex Karp Says Silicon Valley ‘Would Not Even Exist’ Without US Military Support
• Negative Sentiment: Investors are focused on weaker bookings indicators despite the revenue beat: total contract value reportedly grew just 6% year over year, versus 49% in the prior quarter, while U.S. commercial contract value fell sequentially. These figures raise questions about whether sales momentum can sustain recent growth. Article: Palantir (PLTR) Stock Slips Despite Strong AI Revenue
• Negative Sentiment: European defense contractor Helsing introduced its Clarity AI platform, which is being trialed by Germany’s military and designed around European sovereignty requirements. It could challenge Palantir for some defense AI business in Europe. Article: Palantir (PLTR) Faces A European Rival In Defense AI

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $171.58 on Friday. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $212.94. The stock’s 50-day simple moving average is $185.08 and its 200 day simple moving average is $153.81. The stock has a market capitalization of $412.32 billion, a P/E ratio of 119.99, a P/E/G ratio of 3.48 and a beta of 1.65.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.18 billion. Palantir Technologies had a net margin of 50.34% and a return on equity of 30.49%. The company’s revenue was up 95.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.21 earnings per share. Equities research analysts forecast that Palantir Technologies Inc. will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Mizuho lifted their price objective on shares of Palantir Technologies from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, October 15th. Wolfe Research began coverage on shares of Palantir Technologies in a research report on Tuesday, August 4th. They set a “buy” rating for the company. DA Davidson restated a “buy” rating and set a $250.00 price target on shares of Palantir Technologies in a research note on Tuesday, November 3rd. UBS Group reaffirmed a “buy” rating on shares of Palantir Technologies in a report on Tuesday, November 3rd. Finally, Barclays lifted their price target on shares of Palantir Technologies from $265.00 to $273.00 and gave the stock an “overweight” rating in a report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $216.76.

Palantir Technologies Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.