Kornitzer Capital Management Inc. KS Acquires New Holdings in Palantir Technologies Inc. $PLTR

Key Points

• Kornitzer Capital Management opened a new Palantir position in the third quarter, buying 4,175 shares valued at approximately $781,000.
• Palantir reported quarterly revenue of $2.31 billion, up 95.9% year over year, and earnings per share of $0.44, beating analysts’ $0.41 estimate.
• Insiders sold 523,716 shares worth about $92.2 million over the past three months. Analysts’ consensus rating was “Moderate Buy,” but the article noted valuation concerns, with the stock trading at a price-to-earnings ratio of 118.06.

Kornitzer Capital Management Inc. KS acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,175 shares of the company's stock, valued at approximately $781,000.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Palantir Technologies by 0.4% during the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company's stock worth $22,146,030,000 after buying an additional 757,322 shares during the period. State Street Corp raised its holdings in shares of Palantir Technologies by 2.8% in the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company's stock valued at $12,190,903,000 after buying an additional 2,863,874 shares during the period. Bank of America Corp DE raised its holdings in shares of Palantir Technologies by 1.0% in the 2nd quarter. Bank of America Corp DE now owns 19,020,265 shares of the company's stock valued at $2,219,094,000 after buying an additional 180,486 shares during the period. Amundi lifted its stake in Palantir Technologies by 7.4% during the 2nd quarter. Amundi now owns 17,623,053 shares of the company's stock worth $2,056,082,000 after acquiring an additional 1,212,653 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in Palantir Technologies during the 1st quarter worth about $1,574,111,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insider Activity

In other Palantir Technologies news, insider Alexander Karp sold 492,348 shares of the company's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $174.79, for a total transaction of $86,057,506.92. Following the sale, the insider owned 6,432,258 shares in the company, valued at $1,124,294,375.82. This represents a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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 sale, the director directly owned 3,465 shares in the company, valued at $710,325. This represents a 22.40% 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 523,716 shares of company stock worth $92,212,379 over the last three months. Company insiders own 9.53% of the company's stock.

Key Palantir Technologies News

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

• Positive Sentiment: Palantir’s latest quarter showed rapid growth and profitability: revenue rose nearly 96% year over year and exceeded expectations, while U.S. commercial revenue more than doubled. That commercial momentum may help offset reliance on government contracts. Article: As Democrats Take Over Congress, Is Palantir Stock at Risk?
• Positive Sentiment: ETFs purchased $75.3 million of PLTR shares on Nov. 6, with more funds buying than selling, indicating institutional demand. Article: ETFs Are Buying Palantir (PLTR) on Nov. 6
• Neutral Sentiment: A technical analysis article pointed to a historically bullish signal, but the provided report did not specify its details or guarantee future gains. Article: This Software Stock Bull Signal Has Never Been Wrong
• Negative Sentiment: Investors may be weighing political and budget risk: the incoming Congress could reject or revise the proposed 2027 defense budget, potentially affecting Palantir’s government business. The concern comes even as commercial growth accelerates. Article: As Democrats Take Over Congress, Is Palantir Stock at Risk?
• Negative Sentiment: Valuation remains a headwind. Commentary cautioned that the shares may be expensive despite strong commercial AI growth, leaving them vulnerable to profit-taking or a broader AI-sector pullback. Article: Palantir’s Commercial AI Business Just Changed the Story, But It’s Stock Could Be Too Expensive

Palantir Technologies Stock Down 0.2%

NASDAQ:PLTR opened at $168.82 on Wednesday. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $212.94. The company has a fifty day simple moving average of $185.19 and a two-hundred day simple moving average of $153.77. The company has a market cap of $405.68 billion, a price-to-earnings ratio of 118.06, a price-to-earnings-growth ratio of 3.42 and a beta of 1.65.

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

Analyst Ratings Changes

PLTR has been the subject of a number of research analyst reports. Northland Securities set a $200.00 target price on Palantir Technologies in a report on Tuesday, August 4th. KeyCorp reaffirmed a "sector weight" rating on shares of Palantir Technologies in a research report on Wednesday, November 4th. Phillip Securities lowered shares of Palantir Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 12th. Truist Financial reissued a "buy" rating and set a $250.00 price target (up from $223.00) on shares of Palantir Technologies in a research report on Tuesday, November 3rd. Finally, Rosenblatt Securities reissued a "buy" rating and set a $260.00 price target on shares of Palantir Technologies in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.53.

About Palantir Technologies

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.

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