10,608 Shares in Palantir Technologies Inc. $PLTR Bought by Econ Financial Services Corp

Econ Financial Services Corp acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, Holdings Channel.com reports. The firm acquired 10,608 shares of the company’s stock, valued at approximately $1,552,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Basepoint Wealth LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $29,000. United Financial Planning Group LLC purchased a new position in Palantir Technologies in the 3rd quarter valued at about $32,000. Morton Brown Family Wealth LLC boosted its holdings in Palantir Technologies by 250.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after buying an additional 125 shares during the last quarter. Cornerstone Financial Management LLC acquired a new stake in Palantir Technologies in the 4th quarter worth about $31,000. Finally, Clayton Financial Group LLC boosted its holdings in Palantir Technologies by 500.0% in the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after buying an additional 150 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 165,514 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $22,516,524.56. Following the completion of the sale, the insider directly owned 642,786 shares in the company, valued at $87,444,607.44. This represents a 20.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 1,481 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $128.80, for a total value of $190,752.80. Following the completion of the sale, the insider directly owned 60,226 shares of the company’s stock, valued at $7,757,108.80. This trade represents a 2.40% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 927,270 shares of company stock valued at $126,197,785. 9.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. BNP Paribas Exane assumed coverage on Palantir Technologies in a report on Tuesday, June 16th. They set an “underperform” rating for the company. Argus raised Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research note on Wednesday, May 6th. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and dropped their price target for the stock from $205.00 to $151.00 in a research report on Friday, May 1st. Citigroup increased their price objective on Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Wedbush started coverage on Palantir Technologies in a report on Tuesday, June 16th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $192.76.

Key Palantir Technologies News

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

• Positive Sentiment: ARK Invest reportedly bought about $3.3 million of Palantir shares, helping fuel “buy the dip” interest after the stock hit 52-week lows. Why Is Palantir Stock Surging On Friday?
• Positive Sentiment: Wedbush and other bullish commentators argued the recent tech selloff is a buying opportunity, saying investors still underestimate Palantir’s role in enterprise AI. Wedbush brushes off tech sell-off as buying chance in multi-year AI bull run
• Positive Sentiment: New growth catalysts were highlighted from Palantir’s partnerships with Zeta Global and the U.S. Army, reinforcing demand for its software platform. Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
• Positive Sentiment: Several articles pointed out that PLTR has become one of the most oversold mega-cap tech names, suggesting the stock may be stretched too far to the downside. Palantir Becomes Most Oversold Mega-Cap Tech Stock
• Neutral Sentiment: Palantir’s recent rebound also came as software stocks outperformed semiconductors, reflecting a broader sector rotation rather than a company-specific breakthrough. The Market Rotation Is On. ServiceNow, Workday, and AppLovin Rise as Software Tops Chips.
• Negative Sentiment: Despite the bounce, Palantir is still under pressure from a broad AI/software selloff, concerns about rich valuation, and fear that expectations ran ahead of fundamentals. Why Palantir Stock Soared Today
• Negative Sentiment: Bearish coverage also continued, including a Seeking Alpha piece on “accelerating AI risks,” underscoring investor worries about competition and the sustainability of Palantir’s premium multiple. Palantir: Accelerating AI Risks

Palantir Technologies Trading Up 5.3%

PLTR stock opened at $112.93 on Friday. The company has a market cap of $270.73 billion, a price-to-earnings ratio of 126.89, a PEG ratio of 1.73 and a beta of 1.53. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $207.52. The firm has a 50-day moving average of $135.96 and a two-hundred day moving average of $150.44.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business’s revenue was up 84.7% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. As a group, equities analysts forecast that Palantir Technologies Inc. will post 1.16 earnings per share for the current year.

Palantir Technologies Profile

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.