Palantir Technologies Inc. $PLTR Shares Newly Purchased by WASHINGTON TRUST Co

WASHINGTON TRUST Co acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,366 shares of the company’s stock, valued at approximately $630,000.

Several other institutional investors and hedge funds have also modified their holdings of PLTR. Jennison Associates LLC bought a new stake in Palantir Technologies in the 1st quarter valued at about $1,574,111,000. Arrowstreet Capital Limited Partnership raised its stake in Palantir Technologies by 277.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock worth $1,528,143,000 after acquiring an additional 7,678,747 shares in the last quarter. Bank of America Corp DE increased its position in Palantir Technologies by 28.7% during the 1st quarter. Bank of America Corp DE now owns 18,839,779 shares of the company’s stock worth $2,755,883,000 after purchasing an additional 4,201,852 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Palantir Technologies by 795.6% in the 1st quarter. Janus Henderson Group PLC now owns 3,323,141 shares of the company’s stock valued at $480,247,000 after acquiring an additional 2,952,079 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Palantir Technologies by 2.8% in 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. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Needham & Company LLC set a $215.00 price target on Palantir Technologies in a research report on Tuesday, August 11th. Roth Capital assumed coverage on Palantir Technologies in a research note on Tuesday, August 4th. They issued a “buy” rating for the company. Zacks Research lowered Palantir Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Jefferies Financial Group reiterated an “underperform” rating and issued a $80.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, Cantor Fitzgerald initiated coverage on Palantir Technologies in a research report on Tuesday, August 4th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $203.48.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Investors expect Palantir to outperform its third-quarter revenue guidance of approximately $2.16 billion, based on the company’s recent history of exceeding forecasts. A stronger result or raised outlook could support the stock’s rally. Palantir Guided for $2.16 Billion in Revenue for Q3
• Positive Sentiment: Analyst Dan Ives said Palantir and Snowflake are approaching the point where significant AI infrastructure spending translates into software monetization, and he believes Wall Street may be underestimating technology earnings potential. Dan Ives on AI Monetization
• Positive Sentiment: Citi raised its Palantir price target from $245 to $250 while maintaining a Buy rating, adding to bullish expectations ahead of the earnings release. Citi Raises Palantir Stock Price Target
• Positive Sentiment: Palantir is expanding its commercial and government reach through partnerships with Stagwell and Knox Systems, while elevating Aplos Data within its partner network to help deploy Foundry and AIP to additional customers. Palantir and Stagwell Expand AI Partnership
• Neutral Sentiment: The November 2 earnings report is the immediate catalyst. Investors will watch revenue growth, commercial customer momentum, margins and forward guidance to determine whether Palantir can justify its near-record valuation. Should You Buy or Sell Palantir Ahead of Earnings?
• Negative Sentiment: Palantir trades at a very elevated earnings multiple, and some analysts see limited additional upside. Any slowdown relative to expectations could prompt profit-taking or a sharp pullback. Palantir: The Business Is Booming, But the Stock Has a Problem
• Negative Sentiment: ARK Invest trimmed its Palantir position, while concerns about the scalability and economics of forward-deployed AI add pressure to the bullish thesis. Cathie Wood Trims Palantir Shares

Insider Buying and Selling

In other news, Director Eric Woersching sold 1,000 shares of the business’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $205.00, for a total value of $205,000.00. Following the completion of the sale, the director owned 3,465 shares of the company’s stock, valued at approximately $710,325. The trade was a 22.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ryan Taylor sold 18,000 shares of the 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 directly owned 274,667 shares of the company’s stock, valued at approximately $55,249,267.05. This trade represents a 6.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 560,390 shares of company stock worth $97,909,177 in the last 90 days. 9.53% of the stock is currently owned by company insiders.

Palantir Technologies Stock Up 0.3%

Palantir Technologies stock opened at $196.75 on Friday. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $212.94. The stock has a market cap of $472.80 billion, a price-to-earnings ratio of 168.16, a PEG ratio of 3.46 and a beta of 1.60. The business has a 50-day simple moving average of $184.76 and a 200 day simple moving average of $153.78.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. Palantir Technologies’s quarterly revenue was up 92.8% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share. On average, research analysts anticipate that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.

About Palantir Technologies

Palantir Technologies Inc develops software platforms that help government agencies and commercial organizations integrate, analyze and act on data. Its products are designed to support complex operations such as defense and intelligence, supply-chain management, manufacturing, healthcare and other data-intensive activities.

Palantir’s principal platforms include Gotham, which is primarily used by government and defense customers; Foundry, which helps commercial and institutional users build data-driven workflows; Apollo, a platform for deploying and managing software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects generative artificial intelligence capabilities with an organization’s data and operational systems.

Founded in 2003, the company initially focused on software for government and national-security applications before expanding into commercial markets.