Absolute Capital Management LLC Buys 9,115 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Absolute Capital Management initiated a Palantir position by purchasing 9,115 shares worth approximately $1.7 million in the third quarter. Institutional investors collectively own 45.65% of the company.
• Insiders sold 560,390 shares valued at roughly $97.9 million over the past quarter, including transactions conducted under prearranged Rule 10b5-1 plans to cover tax obligations.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $201.61, but Palantir faces elevated valuation risks with a P/E ratio near 159 and high expectations ahead of its next earnings report.

Absolute Capital Management LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 9,115 shares of the company's stock, valued at approximately $1,705,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Forum Financial Management LP increased its holdings in Palantir Technologies by 7.2% in the 3rd quarter. Forum Financial Management LP now owns 15,781 shares of the company's stock worth $2,952,000 after purchasing an additional 1,060 shares in the last quarter. RKL Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the third quarter valued at about $340,000. Hengehold Capital Management LLC grew its holdings in shares of Palantir Technologies by 27.9% during the third quarter. Hengehold Capital Management LLC now owns 2,542 shares of the company's stock worth $475,000 after purchasing an additional 554 shares during the last quarter. McKinley Carter Wealth Services Inc. bought a new stake in shares of Palantir Technologies during the third quarter worth about $336,000. Finally, Sweeney & Michel LLC increased its stake in shares of Palantir Technologies by 3.6% in the third quarter. Sweeney & Michel LLC now owns 3,952 shares of the company's stock valued at $739,000 after buying an additional 139 shares during the period. Institutional investors own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider Jeffrey Buckley sold 1,250 shares of Palantir Technologies stock in a transaction on 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 sale, the insider owned 56,921 shares in the company, valued at $9,920,761.09. The trade was a 2.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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, Director Eric Woersching sold 1,000 shares of the business's stock in a transaction on Friday, October 9th. The shares were sold at an average price of $205.00, for a total transaction of $205,000.00. Following the transaction, the director owned 3,465 shares in the company, valued at $710,325. The trade was a 22.40% decrease in their position. 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. Over the last quarter, insiders have sold 560,390 shares of company stock worth $97,909,177. Corporate insiders own 9.53% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PLTR shares. Raymond James Financial upgraded shares of Palantir Technologies from a "hold" rating to a "moderate buy" rating in a report on Thursday, October 8th. Northland Securities set a $200.00 target price on shares of Palantir Technologies in a report on Tuesday, August 4th. Royal Bank Of Canada restated an "underperform" rating and issued a $90.00 price target on shares of Palantir Technologies in a research report on Friday, July 31st. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price target on shares of Palantir Technologies in a research note on Wednesday, September 23rd. Finally, Roth Capital initiated coverage on shares of Palantir Technologies in a report on Tuesday, August 4th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $201.61.

Key Headlines Impacting Palantir Technologies

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%

PLTR stock opened at $186.03 on Friday. The stock has a 50-day moving average price of $182.61 and a 200-day moving average price of $152.00. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $212.94. The firm has a market cap of $447.04 billion, a PE ratio of 159.00, a price-to-earnings-growth ratio of 3.27 and a beta of 1.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $1.94 billion for 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 firm's revenue for the quarter was up 92.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 EPS. On average, analysts forecast that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.

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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