Texas Capital Bank Wealth Management Services Inc Boosts Stock Position in Palantir Technologies Inc. $PLTR

Texas Capital Bank Wealth Management Services Inc raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 636.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,088 shares of the company’s stock after purchasing an additional 19,954 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Palantir Technologies were worth $4,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bare Financial Services Inc grew its stake in Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. United Financial Planning Group LLC acquired a new stake in shares of Palantir Technologies during the third quarter worth about $32,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Palantir Technologies by 250.0% during the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after purchasing an additional 125 shares during the period. Clayton Financial Group LLC lifted its holdings in shares of Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 150 shares during the period. Finally, Wexford Capital LP acquired a new stake in shares of Palantir Technologies during the third quarter worth about $36,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 3.0%

Shares of NASDAQ:PLTR opened at $132.51 on Thursday. Palantir Technologies Inc. has a 12-month low of $118.93 and a 12-month high of $207.52. The company has a market capitalization of $317.67 billion, a PE ratio of 148.89, a PEG ratio of 2.17 and a beta of 1.52. The business has a 50 day moving average of $141.86 and a two-hundred day moving average of $156.37.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted $0.13 earnings per share. Palantir Technologies’s revenue for the quarter was up 84.7% on a year-over-year basis. Equities research analysts predict that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on PLTR. Daiwa Securities Group raised Palantir Technologies from a “neutral” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, February 10th. Northland Securities raised Palantir Technologies from a “market perform” rating to an “outperform” rating and set a $190.00 target price for the company in a report on Tuesday, February 3rd. Benchmark began coverage on Palantir Technologies in a report on Wednesday, April 1st. They set a “hold” rating for the company. Loop Capital decreased their target price on Palantir Technologies from $230.00 to $220.00 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, The Goldman Sachs Group decreased their target price on Palantir Technologies from $188.00 to $182.00 in a report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Several articles highlighted Palantir’s strong AI momentum and enterprise adoption, arguing the recent pullback could be a buying opportunity as demand for its AI Platform remains strong. Palantir Stock Is Down 34% from Its Highs. Don’t Miss This Chance to Buy the Dip.
• Positive Sentiment: Analyst-style coverage also noted Palantir’s growing government and enterprise traction, with some comparisons favoring PLTR over other AI-first software names. Palantir vs. UiPath: Which AI-First Software Stock is a Buy?
• Positive Sentiment: Some coverage said Palantir is still not showing enough evidence for a bearish case, implying the selloff may be overdone relative to the company’s operating performance. Palantir: Still Not Enough Evidence For A Sell Case Here

Insider Buying and Selling

In related news, insider David A. Glazer sold 17,128 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares of the company’s stock, valued at approximately $51,047,921.68. This represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares of the company’s stock, valued at $875,044,378.32. The trade was a 5.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 922,524 shares of company stock valued at $125,501,302 in the last three months. 9.53% of the stock is currently owned by company insiders.

About Palantir Technologies

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.