Palantir Technologies Inc. $PLTR Shares Bought by Alta Advisers Ltd

Key Points

• Alta Advisers increased its Palantir stake by 83.5% in the third quarter, adding 7,494 shares to hold 16,468 shares valued at about $3.08 million.
• Palantir reported quarterly revenue of $2.31 billion, up 95.9% year over year, and EPS of $0.44, beating analyst estimates. The company’s strong results and raised outlook were accompanied by concerns about slowing contract growth and its premium valuation.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $214.53, even as the shares fell 9.7% and traded at $154.99.

Alta Advisers Ltd grew its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 83.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,468 shares of the company's stock after acquiring an additional 7,494 shares during the quarter. Alta Advisers Ltd's holdings in Palantir Technologies were worth $3,080,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Palantir Technologies by 0.4% in the 2nd quarter. BlackRock Inc. now owns 189,817,693 shares of the company's stock worth $22,146,030,000 after purchasing an additional 757,322 shares in the last quarter. State Street Corp lifted its holdings in shares of 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 purchasing an additional 2,863,874 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Palantir Technologies by 1.0% during the second quarter. Bank of America Corp DE now owns 19,020,265 shares of the company's stock valued at $2,219,094,000 after purchasing an additional 180,486 shares in the last quarter. Amundi lifted its holdings in shares of Palantir Technologies by 7.4% during the second quarter. Amundi now owns 17,623,053 shares of the company's stock valued at $2,056,082,000 after purchasing an additional 1,212,653 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of Palantir Technologies during the first quarter valued at $1,574,111,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PLTR. Barclays lifted their price objective on Palantir Technologies from $265.00 to $273.00 and gave the stock an "overweight" rating in a report on Wednesday. Northland Securities set a $200.00 target price on Palantir Technologies in a research report on Tuesday, August 4th. Benchmark restated a "hold" rating on shares of Palantir Technologies in a research note on Tuesday, August 4th. Citigroup lifted their price target on shares of Palantir Technologies from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Robert W. Baird set a $250.00 price objective on shares of Palantir Technologies in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $214.53.

Palantir Technologies Stock Down 9.7%

NASDAQ PLTR opened at $154.99 on Friday. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $212.94. The firm has a market capitalization of $372.45 billion, a P/E ratio of 108.38, a PEG ratio of 3.60 and a beta of 1.65. The company has a 50-day moving average price of $186.39 and a 200-day moving average price of $153.78.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.44 earnings per share (EPS) 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 company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the firm posted $0.21 earnings per share. The firm's revenue was up 95.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 1.31 EPS for the current year.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Palantir reported revenue of $2.31 billion, up about 96% year over year, and adjusted EPS of $0.44, beating analyst estimates. U.S. commercial revenue surged 148%, and the company raised its full-year outlook, underscoring strong demand for its AI software. Palantir’s third-quarter results
• Positive Sentiment: Some investors and analysts remain constructive: ARK Invest bought Palantir shares during the selloff, and several research firms have maintained Buy ratings or raised price targets. ARK Invest purchases Palantir shares
• Negative Sentiment: Strong revenue growth has not eased concerns about future deal momentum. Reports cite slower contract-growth metrics, including a sharp quarter-over-quarter slowdown in total contract value growth, prompting questions about whether new bookings can sustain the pace of sales. Contract growth and spending concerns
• Negative Sentiment: Palantir’s premium valuation leaves little room for disappointment, and investors are taking profits in high-flying AI and software shares. The selloff is also tied to election-related concerns that a Democratic-controlled Congress could curb the proposed defense budget, creating uncertainty for government-focused business. Election and sector pressures

Insider Buying and Selling

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,250 shares of the company's stock in a transaction that occurred 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 transaction, the insider directly owned 56,921 shares in the company, valued at $9,920,761.09. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 company's stock in a transaction that occurred on Thursday, October 8th. The stock was 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 owned 274,667 shares of the company's stock, valued at approximately $55,249,267.05. The trade was a 6.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 in the last ninety days. Corporate insiders own 9.53% of the company's stock.

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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