Turtle Creek Wealth Advisors LLC increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 39.8% in the third quarter, Holdings Channel.com reports. The firm owned 18,728 shares of the company’s stock after purchasing an additional 5,329 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Palantir Technologies were worth $3,503,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PLTR. Purus Wealth Management LLC increased its position in Palantir Technologies by 0.4% during the third quarter. Purus Wealth Management LLC now owns 23,318 shares of the company’s stock worth $4,362,000 after purchasing an additional 87 shares during the last quarter. Nvwm LLC raised its stake in Palantir Technologies by 3.6% during the third quarter. Nvwm LLC now owns 12,229 shares of the company’s stock worth $2,287,000 after purchasing an additional 428 shares during the period. HBW Advisory Services LLC raised its stake in Palantir Technologies by 14.3% during the third quarter. HBW Advisory Services LLC now owns 9,459 shares of the company’s stock worth $1,769,000 after purchasing an additional 1,183 shares during the period. Howard Financial Services LTD. boosted its holdings in shares of Palantir Technologies by 5.2% in the 3rd quarter. Howard Financial Services LTD. now owns 14,592 shares of the company’s stock valued at $2,729,000 after purchasing an additional 724 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at $294,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.
Palantir Technologies Trading Down 0.9%
Shares of PLTR traded down $1.90 during midday trading on Thursday, reaching $199.07. 15,010,451 shares of the company were exchanged, compared to its average volume of 42,356,574. The stock has a 50-day moving average price of $181.44 and a 200-day moving average price of $151.35. The company has a market cap of $478.37 billion, a price-to-earnings ratio of 170.33, a P/E/G ratio of 2.87 and a beta of 1.60. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $212.94.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The company’s revenue for the quarter was up 92.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. Equities research analysts anticipate that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.
Insider Transactions at Palantir Technologies
In other news, Director Lauren Friedman Stat sold 5,026 shares of Palantir Technologies stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $199.00, for a total transaction of $1,000,174.00. Following the sale, the director owned 46,402 shares in the company, valued at $9,233,998. This trade represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 2,055 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $174.83, for a total transaction of $359,275.65. Following the transaction, the insider directly owned 58,171 shares in the company, valued at approximately $10,170,035.93. The trade was a 3.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold 560,390 shares of company stock worth $97,909,177 over the last 90 days. 9.53% of the stock is owned by corporate insiders.
More Palantir Technologies News
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: New banking deployment: Customers Bank will deploy Palantir’s Foundry and Artificial Intelligence Platform (AIP) to modernize deposit onboarding. The agreement expands Palantir’s presence in financial services and provides another example of enterprise adoption. Customers Bank collaboration
- Positive Sentiment: Additional aviation software contract: Surf Air Mobility signed its fifth OperatorOS agreement, with Flying Zebra, for software powered by Palantir. Although the direct financial contribution is not disclosed, the deal supports broader commercial distribution of Palantir’s technology in aviation. Flying Zebra contract
- Positive Sentiment: Analyst support: Goldman Sachs upgraded Palantir to Buy from Neutral, while fresh valuation work lifted a fair-value estimate to $205.27 from $195.57. Analysts continue to cite strong execution in commercial and sovereign AI. Analyst fair-value increase
- Neutral Sentiment: Palantir and London Mayor Sadiq Khan ended their legal dispute over a proposed Metropolitan Police contract. Removing the litigation reduces uncertainty, but there is no indication that the contract will proceed. London police contract dispute
- Negative Sentiment: Valuation and profit-taking: With a market capitalization near $477 billion and a P/E ratio above 169, investors appear concerned that much of Palantir’s exceptional growth is already priced in. The November 2 earnings report also sets a high bar after nine consecutive earnings beats.
- Negative Sentiment: Notable selling activity: ARK Invest sold approximately $6.3 million of Palantir shares while reallocating funds to other AI companies. Directors also reported sales under pre-arranged Rule 10b5-1 plans, adding to near-term caution. ARK Invest Palantir sale
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on PLTR. William Blair reaffirmed an “outperform” rating on shares of Palantir Technologies in a research report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a “hold” rating to a “buy” rating and set a $200.00 target price for the company in a report on Tuesday, August 4th. UBS Group raised their price target on shares of Palantir Technologies from $220.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Wolfe Research began coverage on shares of Palantir Technologies in a research report on Tuesday, August 4th. They set a “buy” rating on the stock. Finally, Phillip Securities downgraded shares of Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.61.
Get Our Latest Research Report on PLTR
About Palantir Technologies
Palantir Technologies Inc (NASDAQ: PLTR) develops software platforms that help organizations integrate, analyze and act on large and complex datasets. Its principal platforms include Gotham, which is designed primarily for government and defense applications; Foundry, which supports commercial and institutional data operations; Apollo, which helps deploy and manage software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects large language models and other AI tools with an organization’s data and workflows.
The company serves government agencies, defense and intelligence organizations, and commercial businesses in industries such as manufacturing, healthcare, energy and financial services.
Read More
- Five stocks we like better than Palantir Technologies
- AMD’s Support Could Help Fermi Stock Overcome Its Biggest Hurdle
- Beyond the GPU: Credo Paves the Next AI Data Superhighway
- Fastenal Flashes Bullish Signal as Uptrend Holds Despite Margin Pressure
- Synopsys Signals Confidence With $1B Accelerated Buyback, Analysts Raise Targets
Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR – Free Report).
Receive News & Ratings for Palantir Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palantir Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
