Sigma Planning Corp raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 34.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,826 shares of the company’s stock after acquiring an additional 24,600 shares during the quarter. Sigma Planning Corp’s holdings in Palantir Technologies were worth $17,916,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Ballast Advisors LLC acquired a new position in shares of Palantir Technologies in the first quarter valued at approximately $29,000. Retirement Wealth Solutions LLC increased its stake in shares of Palantir Technologies by 51.7% during the third 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 period. Dakota Community Bank & Trust NA increased its stake in shares of Palantir Technologies by 219.1% during the third quarter. Dakota Community Bank & Trust NA now owns 217 shares of the company’s stock worth $41,000 after purchasing an additional 149 shares during the period. Whipplewood Advisors LLC acquired a new stake in Palantir Technologies during the 1st quarter worth approximately $32,000. Finally, PFS Partners LLC lifted its holdings in Palantir Technologies by 28.9% during the 3rd quarter. PFS Partners LLC now owns 250 shares of the company’s stock worth $47,000 after purchasing an additional 56 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Weiss Ratings upgraded Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. The Goldman Sachs Group upgraded Palantir Technologies from a “neutral” rating to a “buy” rating and set a $230.00 price objective on the stock in a research report on Thursday, October 8th. Needham & Company LLC set a $215.00 target price on Palantir Technologies in a report on Tuesday, August 11th. Piper Sandler boosted their target price on shares of Palantir Technologies from $230.00 to $231.00 and gave the company an “overweight” rating in a research report on Friday. Finally, William Blair restated an “outperform” rating on shares of Palantir Technologies in a research note on Wednesday, August 26th. One 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.48.
View Our Latest Stock Report on PLTR
Palantir Technologies Stock Performance
Shares of PLTR stock opened at $196.75 on Monday. The stock has a market cap of $472.80 billion, a P/E ratio of 168.16, a price-to-earnings-growth ratio of 3.46 and a beta of 1.60. The stock has a 50 day simple moving average of $184.76 and a 200 day simple moving average of $153.82. 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 quarterly earnings data on Monday, August 3rd. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter last year, the company earned $0.16 EPS. The company’s revenue was up 92.8% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post 1.31 EPS for the current year.
Insider Activity
In related news, insider Alexander C. Karp sold 492,348 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $174.79, for a total value of $86,057,506.92. Following the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $1,124,294,375.82. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Jeffrey Buckley sold 1,250 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $174.29, for a total value of $217,862.50. Following the completion of the transaction, the insider directly owned 56,921 shares of the company’s stock, valued at approximately $9,920,761.09. This trade represents a 2.15% 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. In the last quarter, insiders sold 560,390 shares of company stock worth $97,909,177. 9.53% of the stock is owned by insiders.
Key Stories Impacting Palantir Technologies
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
About Palantir Technologies
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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