BG Investment Services LLC Buys 9,499 Shares of Palantir Technologies Inc. $PLTR

Key Points

• BG Investment Services initiated a Palantir position by purchasing 9,499 shares worth approximately $1.78 million in the third quarter. Institutional investors collectively own 45.65% of the company.
• Palantir insiders sold 560,390 shares worth about $97.9 million over the past 90 days, including significant sales by Director Lauren Friedman Stat and CEO Alexander Karp under pre-arranged trading plans.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and a $203.48 price target, but Palantir’s elevated valuation— including a P/E ratio above 168—leaves the stock vulnerable if upcoming earnings or guidance disappoint.

BG Investment Services LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,499 shares of the company's stock, valued at approximately $1,777,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLTR. Morton Capital Management LLC CA acquired a new stake in Palantir Technologies during the 3rd quarter worth about $283,000. Evanson Financial LLC purchased a new stake in Palantir Technologies during the 3rd quarter valued at about $258,000. Citizens Financial Group Inc. RI increased its holdings in shares of Palantir Technologies by 114.0% in the third quarter. Citizens Financial Group Inc. RI now owns 73,844 shares of the company's stock valued at $13,812,000 after purchasing an additional 39,336 shares during the period. Simplicity Wealth LLC increased its holdings in shares of Palantir Technologies by 27.9% in the third quarter. Simplicity Wealth LLC now owns 63,841 shares of the company's stock valued at $11,941,000 after purchasing an additional 13,931 shares during the period. Finally, Dudley Capital Management LLC increased its holdings in shares of Palantir Technologies by 9.0% in the third quarter. Dudley Capital Management LLC now owns 6,070 shares of the company's stock valued at $1,135,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Friedman Stat sold 5,026 shares of Palantir Technologies stock in a transaction dated 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 completion of the transaction, the director owned 46,402 shares in the company, valued at $9,233,998. The trade was a 9.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 492,348 shares of Palantir Technologies stock in a transaction dated 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 transaction, 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 disclosure for this sale is available in the SEC filing. 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. Over the last 90 days, insiders sold 560,390 shares of company stock worth $97,909,177. 9.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PLTR has been the subject of several research analyst reports. Zacks Research cut Palantir Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. Needham & Company LLC set a $215.00 price target on shares of Palantir Technologies in a report on Tuesday, August 11th. Oppenheimer downgraded shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $200.00 price target for the company in a research report on Tuesday, August 4th. Finally, William Blair restated an "outperform" rating on shares of Palantir Technologies in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $203.48.

Palantir Technologies Stock Up 0.3%

Shares of PLTR stock opened at $196.75 on Friday. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $212.94. The stock has a market cap of $472.80 billion, a PE ratio of 168.16, a price-to-earnings-growth ratio of 3.46 and a beta of 1.60. The business has a 50-day simple moving average of $184.76 and a 200-day simple moving average of $153.78.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm 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%. Palantir Technologies's revenue for the quarter was up 92.8% compared to the same quarter last year. During the same period last year, the company earned $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.

Palantir Technologies News Roundup

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 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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