Palantir Technologies Inc. $PLTR Stock Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 114.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 73,844 shares of the company’s stock after purchasing an additional 39,336 shares during the period. Citizens Financial Group Inc. RI’s holdings in Palantir Technologies were worth $13,812,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jennison Associates LLC purchased a new stake in Palantir Technologies in the first quarter worth $1,574,111,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Palantir Technologies by 277.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock valued at $1,528,143,000 after buying an additional 7,678,747 shares during the period. Bank of America Corp DE lifted its position in shares of 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 valued at $2,755,883,000 after buying an additional 4,201,852 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Palantir Technologies by 795.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,323,141 shares of the company’s stock valued at $480,247,000 after buying an additional 2,952,079 shares during the last quarter. Finally, State Street Corp increased its holdings in Palantir Technologies by 2.8% in the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company’s stock worth $12,190,903,000 after acquiring an additional 2,863,874 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 35,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $155.70, for a total value of $5,449,500.00. Following the sale, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $100,081,780.20. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 2,055 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $174.83, for a total transaction of $359,275.65. Following the completion of the transaction, the insider owned 58,171 shares of the company’s stock, valued at $10,170,035.93. This trade represents a 3.41% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 560,390 shares of company stock worth $97,909,177. 9.53% of the stock is owned by corporate insiders.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $196.75 on Friday. The stock has a market cap of $472.80 billion, a PE ratio of 168.16, a price-to-earnings-growth ratio of 3.46 and a beta of 1.60. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $212.94. The stock has a fifty day moving average of $184.76 and a 200-day moving average of $153.78.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PLTR shares. Yorkville Ives initiated coverage on Palantir Technologies in a research note on Tuesday, October 6th. They issued an “outperform” rating and a $250.00 price objective on the stock. Oppenheimer downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 4th. Robert W. Baird set a $250.00 target price on shares of Palantir Technologies in a research report on Monday, October 12th. Cantor Fitzgerald began coverage on shares of Palantir Technologies in a research note on Tuesday, August 4th. They issued an “overweight” rating for the company. Finally, Phillip Securities lowered shares of Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.48.

Trending Headlines about 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

Palantir Technologies Company Profile

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.