Palantir Technologies Inc. $PLTR Shares Purchased by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group more than doubled its Palantir stake in the third quarter, increasing holdings by 114% to 73,844 shares valued at approximately $13.8 million. Institutional investors and hedge funds now own 45.65% of PLTR.
• Palantir reported quarterly revenue of $1.94 billion and EPS of $0.41, beating analyst estimates, while revenue grew 92.8% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $203.48.
• Despite strong growth, Palantir’s valuation remains elevated, with a P/E ratio above 168, and insiders sold approximately $97.9 million of stock over the past 90 days—factors that could increase downside risk if future results disappoint.

Citizens Financial Group Inc. RI raised its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 114.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,844 shares of the company's stock after buying an additional 39,336 shares during the period. Citizens Financial Group Inc. RI's holdings in Palantir Technologies were worth $13,812,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Simplicity Wealth LLC increased its position in shares of Palantir Technologies by 27.9% during the third quarter. Simplicity Wealth LLC now owns 63,841 shares of the company's stock worth $11,941,000 after acquiring an additional 13,931 shares in the last quarter. Dudley Capital Management LLC lifted its position in Palantir Technologies by 9.0% in the 3rd quarter. Dudley Capital Management LLC now owns 6,070 shares of the company's stock valued at $1,135,000 after acquiring an additional 500 shares in the last quarter. Gibbs Wealth Management lifted its position in Palantir Technologies by 39.2% in the 3rd quarter. Gibbs Wealth Management now owns 8,306 shares of the company's stock valued at $1,554,000 after acquiring an additional 2,338 shares in the last quarter. Lantern Wealth Advisors LLC bought a new position in Palantir Technologies in the 3rd quarter valued at about $271,000. Finally, James J. Burns & Company LLC acquired a new position in Palantir Technologies during the 3rd quarter valued at about $253,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 0.3%

Palantir Technologies stock opened at $196.75 on Friday. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $212.94. The company's 50 day moving average price is $184.76 and its two-hundred day moving average price is $153.78. The stock has a market cap of $472.80 billion, a P/E ratio of 168.16, a P/E/G ratio of 3.46 and a beta of 1.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its 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. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. Palantir Technologies's quarterly revenue was up 92.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. On average, equities analysts anticipate that Palantir Technologies Inc. will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on PLTR shares. Cantor Fitzgerald began coverage on Palantir Technologies in a report on Tuesday, August 4th. They set an "overweight" rating for the company. Phillip Securities lowered Palantir Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, October 12th. Mizuho raised their target price on Palantir Technologies from $215.00 to $245.00 and gave the company an "outperform" rating in a report on Thursday, October 15th. President Capital raised Palantir Technologies from a "neutral" rating to a "buy" rating and lifted their target price for the company from $25.50 to $133.00 in a research report on Monday, June 29th. Finally, Benchmark reiterated a "hold" rating on shares of Palantir Technologies in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $203.48.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Friedman Stat sold 5,026 shares of the business's stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $199.00, for a total value of $1,000,174.00. Following the transaction, the director owned 46,402 shares of the company's stock, valued at approximately $9,233,998. The trade was a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Woersching sold 1,000 shares of the company's stock in a transaction on 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 transaction, the director owned 3,465 shares of the company's stock, valued at $710,325. This trade represents a 22.40% decrease in their position. 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 560,390 shares of company stock valued at $97,909,177 in the last ninety days. 9.53% of the stock is owned by corporate insiders.

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

Palantir Technologies 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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