Palantir Technologies Inc. $PLTR Shares Purchased by IFG Advisory LLC

Key Points

• IFG Advisory increased its Palantir stake 14.2% in the third quarter, adding 6,882 shares to hold 55,328 shares valued at about $10.35 million. Institutional investors and hedge funds own 45.65% of the stock.
• Palantir beat quarterly expectations, reporting earnings per share of $0.44 versus $0.41 forecast and revenue of $2.31 billion versus $2.18 billion expected; revenue rose 95.9% year over year.
• Shares fell 2.1% on Friday to $167.99. Analysts’ average price target is $216.20, while insiders sold 908,396 shares worth about $157.1 million over the past three months.

IFG Advisory LLC boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,328 shares of the company's stock after purchasing an additional 6,882 shares during the period. IFG Advisory LLC's holdings in Palantir Technologies were worth $10,349,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Bellwether Advisors LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter worth about $5,882,000. Optas LLC lifted its holdings in Palantir Technologies by 5.9% during the 3rd quarter. Optas LLC now owns 19,993 shares of the company's stock valued at $3,740,000 after purchasing an additional 1,105 shares during the last quarter. Phoenix Financial Ltd. lifted its holdings in Palantir Technologies by 12.1% during the 3rd quarter. Phoenix Financial Ltd. now owns 18,566 shares of the company's stock valued at $3,474,000 after purchasing an additional 2,003 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Palantir Technologies by 18.2% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 13,554 shares of the company's stock valued at $2,535,000 after purchasing an additional 2,086 shares during the last quarter. Finally, Hansen & Associates Financial Group Inc. boosted its position in Palantir Technologies by 41.6% in the third quarter. Hansen & Associates Financial Group Inc. now owns 2,253 shares of the company's stock valued at $448,000 after buying an additional 662 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Down 2.1%

Shares of Palantir Technologies stock traded down $3.59 during trading on Friday, reaching $167.99. The company's stock had a trading volume of 15,160,139 shares, compared to its average volume of 25,516,524. The stock has a 50-day moving average price of $184.79 and a two-hundred day moving average price of $153.82. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $212.94. The stock has a market capitalization of $403.69 billion, a P/E ratio of 117.48, a price-to-earnings-growth ratio of 3.47 and a beta of 1.65.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The company reported $0.44 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 firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the firm earned $0.21 EPS. The company's revenue was up 95.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Eric H. Woersching sold 1,000 shares of the company's stock in a transaction 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 owned 3,465 shares of the company's stock, valued at $710,325. This represents a 22.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $3,620,700.00. Following the completion of the transaction, the insider owned 274,667 shares in the company, valued at approximately $55,249,267.05. This represents a 6.15% 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. In the last three months, insiders sold 908,396 shares of company stock worth $157,146,307. 9.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on PLTR shares. The Goldman Sachs Group reaffirmed a "buy" rating and set a $235.00 price objective on shares of Palantir Technologies in a research note on Tuesday, November 3rd. Oppenheimer reiterated an "outperform" rating and issued a $235.00 target price (up from $200.00) on shares of Palantir Technologies in a research note on Thursday, October 29th. Robert W. Baird set a $250.00 target price on shares of Palantir Technologies in a research note on Monday, October 12th. Morgan Stanley boosted their target price on Palantir Technologies from $205.00 to $233.00 and gave the stock a "buy" rating in a report on Tuesday, November 3rd. Finally, Rosenblatt Securities restated a "buy" rating and set a $260.00 price target on shares of Palantir Technologies in a research report on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $216.20.

More Palantir Technologies News

These are some of the PLTR news items that stood out recently:

• Negative Sentiment: Valuation is a key concern: bearish commentary says the share price leaves little room for error, even given Palantir’s exceptional business growth. Investors may be demanding continued rapid growth to justify the premium. Article: Palantir: Exceptional Business, Unjustifiable Price
• Negative Sentiment: Investors are also focused on deceleration in contract-related growth indicators versus the previous quarter, which may raise questions about future demand. A planned sale of 84,680 shares by CTO Shyam Sankar—and another recent planned sale filing—could add to negative sentiment, though insider sales do not necessarily signal a lack of confidence. Article: Why Palantir Technologies Stock Is Down
• Negative Sentiment: ARK Invest reportedly trimmed its Palantir position while buying another AI-related stock. The move may reinforce concerns about investor rotation away from richly valued AI names, although it reflects one fund’s portfolio decision. Article: Cathie Wood Is Buying CoreWeave and Selling Palantir

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.

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