Palantir Technologies Inc. $PLTR Shares Purchased by Elite Wealth Management Inc.

Key Points

• Elite Wealth Management increased its Palantir stake by 35% in the third quarter, adding 23,199 shares to hold 89,558 shares worth about $16.75 million.
• Palantir beat quarterly earnings and revenue estimates, reporting $0.44 per share and $2.31 billion in revenue, up 95.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with a $214.53 average price target; recent insider share sales and Palantir’s high valuation remain notable considerations.

Elite Wealth Management Inc. grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 35.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,558 shares of the company's stock after buying an additional 23,199 shares during the quarter. Palantir Technologies accounts for approximately 3.2% of Elite Wealth Management Inc.'s holdings, making the stock its 7th biggest holding. Elite Wealth Management Inc.'s holdings in Palantir Technologies were worth $16,752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PLTR. M Holdings Securities Inc. boosted its stake in shares of Palantir Technologies by 0.7% in the 3rd quarter. M Holdings Securities Inc. now owns 12,213 shares of the company's stock valued at $2,221,000 after purchasing an additional 81 shares in the last quarter. Shepherd Financial Partners LLC grew its holdings in shares of Palantir Technologies by 1.8% in the 3rd quarter. Shepherd Financial Partners LLC now owns 11,886 shares of the company's stock worth $2,223,000 after purchasing an additional 208 shares during the last quarter. Brighton Jones LLC increased its position in shares of Palantir Technologies by 1.7% during the 3rd quarter. Brighton Jones LLC now owns 60,994 shares of the company's stock worth $11,409,000 after purchasing an additional 1,025 shares in the last quarter. Cullinan Associates Inc. acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth about $700,000. Finally, Uhlmann Price Securities LLC increased its position in shares of Palantir Technologies by 94.0% during the 3rd quarter. Uhlmann Price Securities LLC now owns 17,845 shares of the company's stock worth $3,329,000 after purchasing an additional 8,645 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $160.38 on Monday. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $212.94. The company's 50-day moving average price is $185.88 and its two-hundred day moving average price is $153.74. The firm has a market cap of $385.40 billion, a P/E ratio of 112.15, a P/E/G ratio of 3.24 and a beta of 1.65.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its earnings results on Monday, November 2nd. The company reported $0.44 earnings per share 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 during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the firm posted $0.21 earnings per share. The company's revenue was up 95.9% on a year-over-year basis. As a group, equities analysts predict that Palantir Technologies Inc. will post 1.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Eric Woersching sold 1,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at $710,325. The trade was a 22.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander Karp sold 492,348 shares of the company's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $174.79, for a total value of $86,057,506.92. Following the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $1,124,294,375.82. This represents a 7.11% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 523,716 shares of company stock valued at $92,212,379 over the last quarter. Company insiders own 9.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PLTR shares. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $156.00 to $207.00 and gave the company a "neutral" rating in a research report on Monday, November 2nd. Mizuho upped their price objective on shares of Palantir Technologies from $215.00 to $245.00 and gave the stock an "outperform" rating in a research note on Thursday, October 15th. Rosenblatt Securities reaffirmed a "buy" rating and set a $260.00 price objective on shares of Palantir Technologies in a report on Tuesday, November 3rd. UBS Group reiterated a "buy" rating on shares of Palantir Technologies in a research note on Tuesday, November 3rd. Finally, Zacks Research downgraded Palantir Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $214.53.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir beat Q3 earnings and revenue estimates, with revenue up 95.9% year over year to $2.31 billion, and raised its 2026 outlook. U.S. commercial sales also exceeded government sales for the first time, underscoring the potential to broaden its customer base. Palantir Q3 results and outlook
• Negative Sentiment: The main concern is slowing bookings: total contract value growth reportedly decelerated sharply, including in U.S. commercial business. Investors worry this could weaken the revenue pipeline and make it harder to sustain Palantir’s rapid growth. Commercial bookings slowdown
• Negative Sentiment: Palantir is also caught in a broader sell-off in AI-related software stocks. Its premium valuation may leave little room for any slowdown or disappointment, while concerns about government and defense spending add uncertainty. Contract growth warning

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.

Founded in 2003, Palantir initially focused on software for government and intelligence work and later expanded its commercial business.

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