Palantir Technologies Inc. $PLTR Holdings Boosted by Simplicity Wealth LLC

Simplicity Wealth LLC raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,841 shares of the company's stock after acquiring an additional 13,931 shares during the period. Simplicity Wealth LLC's holdings in Palantir Technologies were worth $11,941,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Guardian Wealth Advisors LLC NC lifted its position in Palantir Technologies by 67.5% in the second quarter. Guardian Wealth Advisors LLC NC now owns 10,627 shares of the company's stock valued at $1,240,000 after purchasing an additional 4,283 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in Palantir Technologies in the 3rd quarter valued at approximately $1,255,000. Independent Financial Group LLC boosted its holdings in Palantir Technologies by 20.8% in the 2nd quarter. Independent Financial Group LLC now owns 188,200 shares of the company's stock valued at $21,957,000 after purchasing an additional 32,427 shares in the last quarter. World Equity Group Inc. boosted its holdings in Palantir Technologies by 7.2% in the 2nd quarter. World Equity Group Inc. now owns 43,627 shares of the company's stock valued at $5,090,000 after purchasing an additional 2,948 shares in the last quarter. Finally, Sage Capital Advisors llc increased its position in Palantir Technologies by 63.5% during the 2nd quarter. Sage Capital Advisors llc now owns 66,944 shares of the company's stock worth $7,810,000 after purchasing an additional 25,995 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $196.75 on Friday. The firm has a market capitalization 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 Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $212.94. The stock's fifty day moving average is $184.76 and its two-hundred day moving average is $153.78.

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 for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The business's revenue for the quarter was up 92.8% on a year-over-year basis. During the same quarter last year, the business posted $0.16 earnings per share. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 1.31 EPS for the current fiscal year.

More 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

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 18,000 shares of the firm's stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $201.15, for a total transaction of $3,620,700.00. Following the completion of the transaction, the insider directly owned 274,667 shares in the company, valued at approximately $55,249,267.05. This trade represents a 6.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric H. Woersching sold 1,000 shares of Palantir Technologies stock in a transaction dated Friday, October 9th. The stock was 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 of the company's stock, valued at approximately $710,325. The trade was 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. Over the last ninety days, insiders sold 560,390 shares of company stock worth $97,909,177. 9.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of analyst reports. Yorkville Ives began coverage on Palantir Technologies in a research note on Tuesday, October 6th. They set an "outperform" rating and a $250.00 target price for the company. William Blair reissued an "outperform" rating on shares of Palantir Technologies in a report on Wednesday, August 26th. Weiss Ratings upgraded Palantir Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a "hold" rating to a "buy" rating and set a $200.00 price objective on the stock in a report on Tuesday, August 4th. Finally, Mizuho upped their price objective on 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-six have assigned a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $203.48.

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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