81,543 Palantir Technologies Inc. $PLTR Shares Bought by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth increased its Palantir stake by 80.7% in the third quarter, buying 81,543 additional shares for a total of 182,621 shares valued at approximately $34.2 million. Institutional investors collectively own 45.65% of the company.
• Palantir insiders sold roughly 560,390 shares worth $97.9 million over the past 90 days, including sales by CEO Alexander Karp and director Lauren Friedman Stat under pre-arranged Rule 10b5-1 plans.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $201.61 price target, but Palantir’s elevated valuation—about 159 times earnings—leaves the stock vulnerable to disappointing growth or earnings results.

SteelPeak Wealth LLC raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 80.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 182,621 shares of the company's stock after acquiring an additional 81,543 shares during the quarter. Palantir Technologies accounts for about 0.8% of SteelPeak Wealth LLC's holdings, making the stock its 25th biggest position. SteelPeak Wealth LLC's holdings in Palantir Technologies were worth $34,159,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Monetary Solutions Ltd purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $36,000. Reflection Asset Management acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $35,000. Ballast Advisors LLC acquired a new stake in shares of Palantir Technologies in the first quarter valued at about $29,000. Retirement Wealth Solutions LLC lifted its stake in shares of Palantir Technologies by 51.7% in the third quarter. Retirement Wealth Solutions LLC now owns 217 shares of the company's stock valued at $41,000 after purchasing an additional 74 shares during the period. Finally, Dakota Community Bank & Trust NA boosted its holdings in 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 buying an additional 149 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 492,348 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 6,432,258 shares of the company's stock, valued at approximately $1,124,294,375.82. This represents a 7.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, Director Lauren Friedman Stat sold 5,026 shares of the company's stock in a transaction that occurred 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 directly owned 46,402 shares in the company, valued at approximately $9,233,998. The trade was a 9.77% 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. Over the last ninety days, insiders sold 560,390 shares of company stock valued at $97,909,177. Corporate insiders own 9.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $200.00 target price on the stock in a research report on Tuesday, August 4th. The Goldman Sachs Group upgraded shares of Palantir Technologies from a "neutral" rating to a "buy" rating and set a $230.00 price target for the company in a research report on Thursday, October 8th. Piper Sandler reissued an "overweight" rating and set a $230.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 4th. Cantor Fitzgerald assumed coverage on Palantir Technologies in a report on Tuesday, August 4th. They issued an "overweight" rating on the stock. Finally, Barclays assumed coverage on Palantir Technologies in a report on Friday, October 9th. They issued an "overweight" rating and a $265.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $201.61.

Key Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir and Ondas launched Regna AI, a venture focused on sovereign-AI solutions for defense and enterprise missions. The initiative could expand Palantir’s opportunities in autonomous systems, surveillance and other mission-critical applications. Regna AI launch
• Positive Sentiment: Palantir expanded its commercial reach through a collaboration with Customers Bank, which will deploy the Foundry and AIP platforms to automate commercial-client onboarding. The agreement supports the company’s strategy of diversifying beyond government and defense customers. Customers Bank collaboration
• Neutral Sentiment: Analyst sentiment remains broadly constructive, including Goldman Sachs’ upgrade to Buy and recent targets above the current trading range. However, coverage also emphasizes that expectations are high ahead of Palantir’s November 2 third-quarter earnings report. Analyst views ahead of earnings
• Negative Sentiment: Broader technology and AI stocks sold off as investors questioned how the industry will finance its large-scale AI buildout and which companies will ultimately generate sufficient returns. Palantir was pulled lower along with other enterprise-software shares. Enterprise software selloff
• Negative Sentiment: Valuation concerns are intensifying after the rally. Commentary highlights a price-to-earnings multiple near 170 times, leaving limited room for slower growth, weaker guidance or an earnings reaction that falls short of elevated expectations. Palantir valuation analysis
• Negative Sentiment: Insider-sale disclosures added to selling pressure. Recent filings show sales by directors and other executives, including transactions made under prearranged Rule 10b5-1 plans; these do not necessarily signal deteriorating fundamentals but can weigh on sentiment and increase available supply. Palantir insider sales

Palantir Technologies Trading Down 7.2%

Shares of NASDAQ PLTR opened at $186.03 on Friday. The stock has a market cap of $447.04 billion, a price-to-earnings ratio of 159.00, a PEG ratio of 3.27 and a beta of 1.60. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $212.94. The company's 50-day moving average price is $182.61 and its 200 day moving average price is $152.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate 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 net margin of 49.01% and a return on equity of 30.57%. The firm's revenue for the quarter was up 92.8% on a year-over-year basis. During the same period last year, the firm posted $0.16 EPS. As a group, research analysts expect that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.

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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