Washington Trust Bank Sells 27,913 Shares of Palantir Technologies Inc. $PLTR

Washington Trust Bank decreased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 24.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 87,726 shares of the company’s stock after selling 27,913 shares during the period. Washington Trust Bank’s holdings in Palantir Technologies were worth $10,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $29,000. Cornerstone Financial Management LLC bought a new position in Palantir Technologies during the 4th quarter worth approximately $31,000. Wexford Capital LP bought a new position in Palantir Technologies during the 3rd quarter worth approximately $36,000. Prudent Man Investment Management Inc. acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $35,000. Finally, Monetary Solutions Ltd acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $36,000. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PLTR. The Goldman Sachs Group reiterated a “neutral” rating and issued a $204.00 target price on shares of Palantir Technologies in a report on Tuesday, August 4th. Royal Bank Of Canada reissued an “underperform” rating and issued a $90.00 price target on shares of Palantir Technologies in a report on Friday, July 31st. Benchmark reaffirmed a “hold” rating on shares of Palantir Technologies in a research note on Tuesday, August 4th. Wolfe Research assumed coverage on Palantir Technologies in a report on Tuesday, August 4th. They set a “buy” rating on the stock. Finally, Citigroup lowered Palantir Technologies from a “buy” rating to a “market perform” rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.19.

Insider Buying and Selling at Palantir Technologies

In other news, insider Jeffrey Buckley sold 2,055 shares of the stock in a transaction dated 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 directly owned 58,171 shares in the company, valued at $10,170,035.93. This represents a 3.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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. Also, insider Alexander C. Karp sold 492,348 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $174.79, for a total value of $86,057,506.92. Following the completion of the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at $1,124,294,375.82. The trade was a 7.11% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 721,764 shares of company stock worth $117,080,858. Company insiders own 9.53% of the company’s stock.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Exceptional growth and profitability: Palantir’s Rule of 40 score reportedly reached 155%, supported by approximately 93% revenue growth and a 62% adjusted operating margin. The figures reinforce the bullish view that the company is converting AI demand into both rapid sales expansion and strong cash generation. Palantir’s Rule of 40 Surge Signals Strong AI-Driven Performance
• Positive Sentiment: Defense AI momentum: Palantir’s Maven Smart System is approaching a $1 billion annual revenue run rate, while Pentagon funding and its designation as a program of record could support as much as $2.30 billion over five years. This gives investors greater visibility into a potentially significant government growth engine. Palantir’s Pentagon AI Business Is Closing In on $1 Billion a Year
• Positive Sentiment: Strong technical and investor interest: PLTR recently broke out to a new high and was added to prominent best-stock and watch lists. Analysts and bullish commentators argue that the sovereign-AI opportunity and Palantir’s execution could justify price targets above current Wall Street estimates. Palantir, Nvidia Among 17 Stocks Rising Onto Best Stock Lists
• Neutral Sentiment: Covered-call strategies are being discussed after the recent rally, reflecting strong demand for PLTR exposure but also investor interest in generating income and potentially limiting downside.
• Negative Sentiment: Valuation remains a major risk: With Palantir trading at roughly 159 times earnings, some value investors view the stock as attractive only at a substantially lower price. Analysts also remain divided over whether its growth can justify the premium valuation. Value Investor Admits Palantir Cheaper Than Expected
• Negative Sentiment: Insider selling and AI concentration concerns: CEO Alexander Karp has sold nearly $86 million of stock, and co-founder Peter Thiel has reduced his stake over time. Separately, investor Steve Eisman warned that AI revenue at major cloud companies is heavily concentrated among OpenAI and Anthropic, raising questions about the durability of AI-related spending and valuations. NVIDIA, Palantir Technologies, and the AI Achilles’ Heel

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $186.29 on Friday. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52. The stock’s 50 day moving average price is $143.76 and its two-hundred day moving average price is $142.05. The stock has a market capitalization of $447.67 billion, a price-to-earnings ratio of 159.22, a PEG ratio of 2.63 and a beta of 1.59.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period last year, the business earned $0.16 EPS. The business’s quarterly revenue was up 92.8% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.27 EPS for the current year.

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.