Evergreen Capital Management LLC Sells 6,996 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Evergreen Capital Management cut its Palantir stake by 19.7% in the third quarter, selling 6,996 shares and retaining 28,530 shares valued at approximately $5.34 million.
• Institutional ownership remains substantial at 45.65%, while analysts maintain a “Moderate Buy” consensus with an average price target of $203.48. Citi and DA Davidson both raised their targets to $250.
• Palantir faces a key earnings catalyst amid strong growth expectations, but its elevated valuation—approximately 168 times earnings—leaves the stock vulnerable to a pullback if results or guidance disappoint.

Evergreen Capital Management LLC lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 19.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,530 shares of the company's stock after selling 6,996 shares during the quarter. Evergreen Capital Management LLC's holdings in Palantir Technologies were worth $5,337,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Palantir Technologies by 0.4% in the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company's stock valued at $22,146,030,000 after acquiring an additional 757,322 shares during the last quarter. State Street Corp grew its position in Palantir Technologies by 2.8% during the second quarter. State Street Corp now owns 104,490,468 shares of the company's stock valued at $12,190,903,000 after acquiring an additional 2,863,874 shares during the period. Bank of America Corp DE increased its stake in Palantir Technologies by 28.7% during the first quarter. Bank of America Corp DE now owns 18,839,779 shares of the company's stock worth $2,755,883,000 after acquiring an additional 4,201,852 shares during the last quarter. Amundi increased its stake in Palantir Technologies by 2.5% during the first quarter. Amundi now owns 16,410,400 shares of the company's stock worth $2,400,513,000 after acquiring an additional 398,093 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Palantir Technologies in the 1st quarter worth about $1,574,111,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PLTR shares. Citigroup lifted their price objective on Palantir Technologies from $245.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday. DA Davidson boosted their target price on Palantir Technologies from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, September 11th. Wolfe Research initiated coverage on shares of Palantir Technologies in a research report on Tuesday, August 4th. They set a "buy" rating for the company. Oppenheimer lowered shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a report on Tuesday, August 4th. Finally, Yorkville Ives began coverage on shares of Palantir Technologies in a report on Tuesday, October 6th. They issued an "outperform" rating and a $250.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of "Moderate Buy" and an average price target of $203.48.

Insider Activity

In other Palantir Technologies news, insider Jeffrey Buckley sold 2,055 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $174.83, for a total value of $359,275.65. Following the completion of the transaction, the insider directly owned 58,171 shares of the company's stock, valued at $10,170,035.93. This represents a 3.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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, insider Ryan D. Taylor sold 18,000 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $201.15, for a total value of $3,620,700.00. Following the completion of the transaction, the insider directly owned 274,667 shares of the company's stock, valued at $55,249,267.05. This represents a 6.15% 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. Insiders sold a total of 560,390 shares of company stock worth $97,909,177 in the last ninety days. 9.53% of the stock is currently owned by company insiders.

Key Palantir Technologies News

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 Stock Performance

Shares of Palantir Technologies stock opened at $196.75 on Monday. The company has a fifty day moving average price of $184.76 and a 200 day moving average price of $153.82. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $212.94. The stock has a market cap of $472.80 billion, a price-to-earnings ratio of 168.16, a price-to-earnings-growth ratio of 3.46 and a beta of 1.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the firm earned $0.16 EPS. The firm's quarterly revenue was up 92.8% compared to the same quarter last year. 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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