PNC Financial Services Group Inc. Boosts Holdings in Palantir Technologies Inc. $PLTR

PNC Financial Services Group Inc. increased its stake in Palantir Technologies Inc. by 7.8% in the third quarter, bringing its total holdings to 492,480 shares valued at approximately $89.84 million. This comes despite a recent 25-27% year-to-date pullback in Palantir’s stock, influenced by valuation concerns and significant insider selling, even as the company reported strong Q4 results with revenue up 70% year-over-year. Analyst sentiment remains mixed, with some raising price targets due to strong growth and commercial contracts, while others express caution regarding its high valuation and ongoing market risks.

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