Ethic Inc. Acquires 6,368 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Ethic Inc. increased its Palantir stake by 5.7% in the third quarter, buying 6,368 shares and ending the period with 117,289 shares valued at about $21.9 million.
• Other institutions also adjusted or expanded their holdings, including Pictet Asset Management and Allen Investment Management; institutional investors collectively own 45.65% of Palantir.
• Palantir reported quarterly revenue of $2.31 billion, up 95.9% year over year and above estimates, but concerns about slowing bookings and its premium valuation persist. Analysts’ average rating is “Moderate Buy,” with an average price target of $214.53.

Ethic Inc. raised its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,289 shares of the company's stock after buying an additional 6,368 shares during the period. Ethic Inc.'s holdings in Palantir Technologies were worth $21,939,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. 180 Wealth Advisors LLC boosted its stake in shares of Palantir Technologies by 6.0% during the 3rd quarter. 180 Wealth Advisors LLC now owns 12,476 shares of the company's stock worth $2,334,000 after acquiring an additional 710 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Palantir Technologies in the 3rd quarter worth $781,000. Axiom Investment Management LLC raised its position in shares of Palantir Technologies by 181.8% during the third quarter. Axiom Investment Management LLC now owns 155 shares of the company's stock worth $29,000 after purchasing an additional 100 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Palantir Technologies by 2.7% during the third quarter. Pictet Asset Management Holding SA now owns 1,769,858 shares of the company's stock worth $331,050,000 after purchasing an additional 47,246 shares during the period. Finally, Allen Investment Management LLC raised its position in shares of Palantir Technologies by 159.3% during the third quarter. Allen Investment Management LLC now owns 258,556 shares of the company's stock worth $48,373,000 after purchasing an additional 158,857 shares during the period. Institutional investors own 45.65% of the company's stock.

More Palantir Technologies News

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

• Positive Sentiment: Palantir beat Q3 earnings and revenue estimates, with revenue up 95.9% year over year to $2.31 billion, and raised its 2026 outlook. U.S. commercial sales also exceeded government sales for the first time, underscoring the potential to broaden its customer base. Palantir Q3 results and outlook
• Negative Sentiment: The main concern is slowing bookings: total contract value growth reportedly decelerated sharply, including in U.S. commercial business. Investors worry this could weaken the revenue pipeline and make it harder to sustain Palantir’s rapid growth. Commercial bookings slowdown
• Negative Sentiment: Palantir is also caught in a broader sell-off in AI-related software stocks. Its premium valuation may leave little room for any slowdown or disappointment, while concerns about government and defense spending add uncertainty. Contract growth warning

Insider Activity

In related news, Director Lauren Friedman Stat sold 1,358 shares of Palantir Technologies stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $186.29, for a total transaction of $252,981.82. Following the completion of the sale, the director owned 45,044 shares of the company's stock, valued at approximately $8,391,246.76. This trade represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Woersching sold 1,000 shares of the business's stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $205.00, for a total value of $205,000.00. Following the completion of the transaction, the director owned 3,465 shares in the company, valued at $710,325. This trade represents a 22.40% 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. In the last quarter, insiders have sold 523,716 shares of company stock valued at $92,212,379. 9.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLTR. Citigroup upped their target price on Palantir Technologies from $250.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, November 3rd. Weiss Ratings raised Palantir Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, October 23rd. Rosenblatt Securities restated a "buy" rating and set a $260.00 price objective on shares of Palantir Technologies in a report on Tuesday, November 3rd. UBS Group reaffirmed a "buy" rating on shares of Palantir Technologies in a research note on Tuesday. Finally, Mizuho raised their target price on shares of Palantir Technologies from $215.00 to $245.00 and gave the stock an "outperform" rating in a report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies has an average rating of "Moderate Buy" and an average price target of $214.53.

Palantir Technologies Stock Up 3.5%

Shares of NASDAQ:PLTR opened at $160.38 on Friday. The firm has a fifty day moving average of $185.88 and a two-hundred day moving average of $153.74. The firm has a market capitalization of $385.40 billion, a P/E ratio of 112.15, a price-to-earnings-growth ratio of 3.36 and a beta of 1.65. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $212.94.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.03. Palantir Technologies had a net margin of 50.34% and a return on equity of 30.49%. The business had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the prior year, the business posted $0.21 earnings per share. Palantir Technologies's revenue for the quarter was up 95.9% compared to the same quarter last year. Equities research analysts expect that Palantir Technologies Inc. will post 1.36 earnings per share for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security.

The company's platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.

Founded in 2003, Palantir initially focused on software for government and intelligence work and later expanded its commercial business.

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