Hyperion Asset Management Ltd lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 41.7% in the third quarter, HoldingsChannel reports. The fund owned 647,697 shares of the company’s stock after selling 463,783 shares during the period. Palantir Technologies makes up 3.3% of Hyperion Asset Management Ltd’s portfolio, making the stock its 13th largest position. Hyperion Asset Management Ltd’s holdings in Palantir Technologies were worth $121,152,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Stewardship Advisors LLC acquired a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $216,000. Ballast Inc. boosted its holdings in shares of Palantir Technologies by 40.7% in the 3rd quarter. Ballast Inc. now owns 2,812 shares of the company’s stock valued at $526,000 after buying an additional 814 shares during the last quarter. Net Worth Advisory Group boosted its holdings in shares of Palantir Technologies by 42.6% in the 3rd quarter. Net Worth Advisory Group now owns 4,366 shares of the company’s stock valued at $830,000 after buying an additional 1,304 shares during the last quarter. Focused Alpha LLC acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at approximately $786,000. Finally, Eagle Wealth Advisors LLC grew its stake in shares of Palantir Technologies by 0.8% in the third quarter. Eagle Wealth Advisors LLC now owns 8,821 shares of the company’s stock valued at $1,650,000 after buying an additional 67 shares in the last quarter. 45.65% of the stock is owned by institutional investors.
Palantir Technologies Trading Up 0.3%
PLTR stock traded up $0.63 during trading hours on Tuesday, hitting $194.78. 8,086,294 shares of the stock were exchanged, compared to its average volume of 42,100,160. 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 $468.06 billion, a P/E ratio of 166.42, a P/E/G ratio of 3.27 and a beta of 1.60. The company has a 50-day simple moving average of $182.99 and a two-hundred day simple moving average of $152.44.
Palantir Technologies (NASDAQ:PLTR – Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.81 billion. During the same period in the previous year, the business earned $0.16 earnings per share. The firm’s quarterly revenue was up 92.8% on a year-over-year basis. On average, equities research analysts predict that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.
Insider Activity at Palantir Technologies
In related news, Director Eric H. Woersching sold 1,000 shares of the business’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $205.00, for a total transaction of $205,000.00. Following the sale, the director owned 3,465 shares in the company, valued at $710,325. The trade was a 22.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Friedman Stat sold 5,026 shares of the stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $199.00, for a total value of $1,000,174.00. Following the completion of the sale, the director owned 46,402 shares of the company’s stock, valued at $9,233,998. The trade was a 9.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 560,390 shares of company stock worth $97,909,177 in the last 90 days. Corporate insiders own 9.53% of the company’s stock.
Key Stories Impacting Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: Palantir’s partnership with Knox Systems is the main bullish catalyst. The companies plan to accelerate secure software and AI deployments for federal customers operating in FedRAMP and IL5 environments, potentially supporting Palantir’s government growth and recurring revenue. Knox and Palantir Partner to Further Accelerate Delivery of Software through Largest Federal Cloud
- Positive Sentiment: Several market commentators continue to view Palantir as a beneficiary of long-term AI and “sovereign AI” spending, particularly because its software is already deployed in defense and commercial workflows. One analysis also highlighted the TITAN system delivery as evidence that Palantir’s AI offerings are moving from pilot projects into operational use. Palantir: TITAN System Delivery And My DOW Mistake
- Positive Sentiment: Technical analysts describe the stock’s recent rebound from its June low as a strong bullish trend. Palantir is also included among software companies with relatively “sticky” demand that held up during the broader AI sell-off. Palantir stock flashes a rare technical pattern that points to more upside
- Neutral Sentiment: Investors are looking ahead to Palantir’s next earnings report, scheduled for November 2. Analysts expect another strong performance, but the stock’s sharp run-up means results may need to significantly exceed expectations to drive another major advance. 4 Stocks With Demand So Sticky That the AI Sell-Off Barely Touched Them at All
- Negative Sentiment: Valuation is the central risk. Analysts warn that Palantir’s exceptionally high earnings multiple already assumes years of exceptional growth and execution, prompting at least one previously bullish analyst to downgrade the shares to neutral. PLTR Stock’s Biggest Risk Isn’t Slowing Growth, but Its Price
- Negative Sentiment: Recent selling by ARK Invest, other insiders, and exchange-traded funds adds pressure and reinforces concerns that some holders are taking profits near record levels. Cathie Wood Buys CoreWeave Stock as ARK Invest Sells Palantir Stock
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on PLTR shares. Roth Capital started coverage on shares of Palantir Technologies in a report on Tuesday, August 4th. They set a “buy” rating on the stock. Zacks Research lowered shares of Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Mizuho increased their price target on shares of Palantir Technologies from $215.00 to $245.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price objective on shares of Palantir Technologies in a research report on Wednesday, September 23rd. Finally, The Goldman Sachs Group upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and set a $230.00 price objective on the stock in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Palantir Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $203.28.
Get Our Latest Analysis on Palantir Technologies
Palantir Technologies Company 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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