Inspire Investing LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 4.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 112,169 shares of the company’s stock after acquiring an additional 4,345 shares during the period. Palantir Technologies accounts for 0.9% of Inspire Investing LLC’s portfolio, making the stock its 11th biggest holding. Inspire Investing LLC’s holdings in Palantir Technologies were worth $20,981,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Ballast Advisors LLC acquired a new position in Palantir Technologies during the 1st quarter valued at about $29,000. Retirement Wealth Solutions LLC grew its position in Palantir Technologies by 51.7% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 217 shares of the company’s stock worth $41,000 after purchasing an additional 74 shares during the last quarter. Dakota Community Bank & Trust NA increased its stake in shares of Palantir Technologies by 219.1% in the third quarter. Dakota Community Bank & Trust NA now owns 217 shares of the company’s stock valued at $41,000 after purchasing an additional 149 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at approximately $32,000. Finally, PFS Partners LLC raised its holdings in shares of Palantir Technologies by 28.9% during the third quarter. PFS Partners LLC now owns 250 shares of the company’s stock valued at $47,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.
Insider Activity at Palantir Technologies
In other news, Director Lauren Friedman Stat sold 5,026 shares of the business’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $199.00, for a total value of $1,000,174.00. Following the sale, the director owned 46,402 shares of the company’s stock, valued at approximately $9,233,998. The trade was a 9.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander Karp sold 492,348 shares of the company’s stock in a transaction on 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 sale, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $1,124,294,375.82. This trade represents a 7.11% decrease in their position. 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 sold 560,390 shares of company stock worth $97,909,177 in the last quarter. Company insiders own 9.53% of the company’s stock.
Palantir Technologies Price Performance
NASDAQ PLTR opened at $196.75 on Friday. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $212.94. The firm has a market capitalization of $472.80 billion, a PE ratio of 168.16, a P/E/G ratio of 3.45 and a beta of 1.60. The company’s 50 day simple moving average is $184.76 and its 200 day simple moving average is $153.78.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The firm’s revenue for the quarter was up 92.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. Sell-side analysts anticipate that Palantir Technologies Inc. will post 1.31 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on PLTR shares. Weiss Ratings upgraded Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. DA Davidson increased their price objective on Palantir Technologies from $200.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, September 11th. President Capital upgraded Palantir Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $25.50 to $133.00 in a research report on Monday, June 29th. Zacks Research downgraded Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, Yorkville Ives started coverage on Palantir Technologies in a research report on Tuesday, October 6th. They set an “outperform” rating and a $250.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $203.48.
Get Our Latest Stock Analysis on PLTR
Key Palantir Technologies News
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Investors expect Palantir to outperform its third-quarter revenue guidance of approximately $2.16 billion, based on the company’s recent history of exceeding forecasts. A stronger result or raised outlook could support the stock’s rally. Palantir Guided for $2.16 Billion in Revenue for Q3
- Positive Sentiment: Analyst Dan Ives said Palantir and Snowflake are approaching the point where significant AI infrastructure spending translates into software monetization, and he believes Wall Street may be underestimating technology earnings potential. Dan Ives on AI Monetization
- Positive Sentiment: Citi raised its Palantir price target from $245 to $250 while maintaining a Buy rating, adding to bullish expectations ahead of the earnings release. Citi Raises Palantir Stock Price Target
- Positive Sentiment: Palantir is expanding its commercial and government reach through partnerships with Stagwell and Knox Systems, while elevating Aplos Data within its partner network to help deploy Foundry and AIP to additional customers. Palantir and Stagwell Expand AI Partnership
- Neutral Sentiment: The November 2 earnings report is the immediate catalyst. Investors will watch revenue growth, commercial customer momentum, margins and forward guidance to determine whether Palantir can justify its near-record valuation. Should You Buy or Sell Palantir Ahead of Earnings?
- Negative Sentiment: Palantir trades at a very elevated earnings multiple, and some analysts see limited additional upside. Any slowdown relative to expectations could prompt profit-taking or a sharp pullback. Palantir: The Business Is Booming, But the Stock Has a Problem
- Negative Sentiment: ARK Invest trimmed its Palantir position, while concerns about the scalability and economics of forward-deployed AI add pressure to the bullish thesis. Cathie Wood Trims Palantir Shares
Palantir Technologies Profile
Palantir Technologies Inc develops software platforms that help government agencies and commercial organizations integrate, analyze and act on data. Its products are designed to support complex operations such as defense and intelligence, supply-chain management, manufacturing, healthcare and other data-intensive activities.
Palantir’s principal platforms include Gotham, which is primarily used by government and defense customers; Foundry, which helps commercial and institutional users build data-driven workflows; Apollo, a platform for deploying and managing software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects generative artificial intelligence capabilities with an organization’s data and operational systems.
Founded in 2003, the company initially focused on software for government and national-security applications before expanding into commercial markets.
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