Palantir Technologies Inc. $PLTR Shares Bought by Bank of America Corp DE

Bank of America Corp DE raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 28.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,839,779 shares of the company’s stock after purchasing an additional 4,201,852 shares during the quarter. Bank of America Corp DE’s holdings in Palantir Technologies were worth $2,755,883,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PLTR. Norges Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $5,149,641,000. Jennison Associates LLC acquired a new position in Palantir Technologies in the 1st quarter valued at $1,574,111,000. Arrowstreet Capital Limited Partnership increased its stake in Palantir Technologies by 277.4% in the 1st 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. State Street Corp raised its position in Palantir Technologies by 7.2% during the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after buying an additional 6,777,771 shares during the last quarter. Finally, Cardano Risk Management B.V. raised its position in Palantir Technologies by 917.4% during the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock worth $1,170,596,000 after buying an additional 5,938,343 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Down 0.4%

NASDAQ:PLTR opened at $123.00 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52. The stock has a market cap of $294.87 billion, a PE ratio of 138.20, a price-to-earnings-growth ratio of 1.97 and a beta of 1.56. The firm’s fifty day simple moving average is $130.96 and its 200-day simple moving average is $141.20.

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 net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm posted $0.13 EPS. The business’s revenue was up 84.7% compared to the same quarter last year. Equities analysts anticipate that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLTR has been the topic of several analyst reports. Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Wednesday, May 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $138.00 price target on shares of Palantir Technologies in a research note on Friday, May 22nd. BNP Paribas Exane started coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They issued an “underperform” rating for the company. Rosenblatt Securities restated a “buy” rating and issued a $225.00 price objective on shares of Palantir Technologies in a research report on Friday, June 5th. Finally, Wedbush started coverage on Palantir Technologies in a research note on Tuesday, June 16th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $189.88.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 17,128 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the sale, the insider owned 375,242 shares of the company’s stock, valued at $51,047,921.68. The trade was a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $2,674,818.48. Following the completion of the sale, the insider owned 199,759 shares in the company, valued at approximately $27,175,214.36. This represents a 8.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,112,270 shares of company stock valued at $150,247,785 in the last ninety days. Company insiders own 9.53% of the company’s stock.

Key Palantir Technologies News

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

• Positive Sentiment: Palantir continues to attract bullish attention because first-quarter revenue rose 85% year over year to $1.63 billion, while management raised full-year revenue guidance to approximately $7.65 billion-$7.66 billion. Some coverage argues that accelerating U.S. commercial demand, larger artificial-intelligence contracts and government spending could support another guidance increase. Smart Money Shifts: Palantir Gains Hedge Fund Backing
• Positive Sentiment: Analyst support remains a potential catalyst: Oppenheimer reiterated an Outperform rating with a $200 price target, and Palantir has received an overall “Moderate Buy” consensus. Bullish technical commentary also points to a possible rebound if earnings trigger an upside breakout. Why Did Palantir Stock Sink?
• Neutral Sentiment: Investors are focused on the August 3 earnings release, which is expected to be a major near-term catalyst. Options markets anticipate a substantial move, reflecting uncertainty over whether Palantir can meet high growth expectations and sustain its premium valuation. Options Traders Expect a Large Swing in PLTR
• Negative Sentiment: Valuation and momentum concerns are weighing on the stock. Palantir trades at roughly 138 times earnings, remains below key moving averages, and technical indicators show weak or bearish momentum. Insider selling, options hedging and concerns about softer commercial sales are adding to investor caution. The Playbook for Palantir Ahead of Earnings
• Negative Sentiment: France’s reported move to replace Palantir with domestic provider ChapsVision in national-security and intelligence contracts raises concerns about European government growth and broader digital-sovereignty risks for U.S. technology vendors. Palantir Faces a French Exit

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.