Palantir Technologies Inc. $PLTR Shares Acquired by Sigma Planning Corp

Key Points

• Sigma Planning Corp increased its Palantir stake by 34.5% in the third quarter, purchasing 24,600 additional shares to reach 95,826 shares valued at approximately $17.9 million. Institutional investors collectively own 45.65% of the company.
• Palantir reported quarterly revenue of $1.94 billion, up 92.8% year over year, and adjusted earnings of $0.41 per share, exceeding analyst expectations. Shares opened at $196.75, near their 52-week high, but trade at an elevated P/E ratio of 168.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $203.48 price target, although ratings range from a $250 bullish target to an $80 underperform target. Insiders have sold 560,390 shares worth about $97.9 million over the past 90 days, underscoring valuation and profit-taking concerns ahead of earnings.

Sigma Planning Corp increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 34.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,826 shares of the company's stock after purchasing an additional 24,600 shares during the quarter. Sigma Planning Corp's holdings in Palantir Technologies were worth $17,916,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Ballast Advisors LLC bought a new stake in Palantir Technologies during the 1st quarter worth about $29,000. Whipplewood Advisors LLC bought a new position in shares of Palantir Technologies in the 1st quarter valued at about $32,000. C M Bidwell & Associates Ltd. bought a new position in shares of Palantir Technologies in the 2nd quarter valued at about $35,000. Retirement Wealth Solutions LLC increased its position in shares of Palantir Technologies by 51.7% in the third quarter. Retirement Wealth Solutions LLC now owns 217 shares of the company's stock valued at $41,000 after acquiring an additional 74 shares during the last quarter. Finally, Dakota Community Bank & Trust NA increased its position in shares of Palantir Technologies by 219.1% in the third quarter. Dakota Community Bank & Trust NA now owns 217 shares of the company's stock valued at $41,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $196.75 on Monday. The firm's 50-day moving average is $184.76 and its 200-day moving average is $153.82. The stock has a market cap of $472.80 billion, a price-to-earnings ratio of 168.16, a PEG ratio of 3.46 and a beta of 1.60. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $212.94.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.81 billion. During the same quarter last year, the company posted $0.16 earnings per share. Palantir Technologies's quarterly revenue was up 92.8% on a year-over-year basis. Sell-side analysts predict 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

Insider Buying and Selling

In related news, Director Eric H. Woersching sold 1,000 shares of the business's stock in a transaction that occurred on 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 directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,250 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $174.29, for a total value of $217,862.50. Following the completion of the sale, the insider owned 56,921 shares in the company, valued at approximately $9,920,761.09. This trade represents a 2.15% 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. 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 valued at $97,909,177. Insiders own 9.53% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PLTR shares. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 target price on shares of Palantir Technologies in a report on Wednesday, September 23rd. Jefferies Financial Group restated an "underperform" rating and issued a $80.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 4th. Zacks Research lowered Palantir Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. Phillip Securities lowered Palantir Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 12th. Finally, Citigroup upped their price objective on Palantir Technologies from $245.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Palantir Technologies has an average rating of "Moderate Buy" and a consensus 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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