Palantir Technologies Inc. $PLTR Shares Sold by Grant Private Wealth Management Inc

Key Points

• Grant Private Wealth Management cut its Palantir position by 25.7% in the third quarter, selling 7,056 shares and retaining 20,406 shares valued at approximately $3.8 million.
• Palantir reported stronger-than-expected quarterly results, with adjusted earnings of $0.41 per share and revenue of $1.94 billion, up 92.8% year over year.
• The stock traded at $186.03, with a market capitalization of roughly $447 billion and a very high P/E ratio of 159, while recent insider sales and valuation concerns may weigh on investor sentiment.

Grant Private Wealth Management Inc lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 25.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,406 shares of the company's stock after selling 7,056 shares during the quarter. Palantir Technologies accounts for 1.7% of Grant Private Wealth Management Inc's investment portfolio, making the stock its 14th biggest position. Grant Private Wealth Management Inc's holdings in Palantir Technologies were worth $3,817,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Palantir Technologies by 0.4% during the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company's stock worth $22,146,030,000 after acquiring an additional 757,322 shares during the last quarter. State Street Corp lifted its stake in shares of Palantir Technologies by 2.8% in the 2nd 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 stake in shares of Palantir Technologies by 1.0% in the 2nd 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 grew its holdings in shares of Palantir Technologies by 7.4% during the 2nd quarter. Amundi now owns 17,623,053 shares of the company's stock worth $2,056,082,000 after purchasing an additional 1,212,653 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter worth about $1,574,111,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $186.03 on Monday. The business's 50-day simple moving average is $182.61 and its 200 day simple moving average is $152.10. The company has a market cap of $447.04 billion, a P/E ratio of 159.00, a PEG ratio of 3.27 and a beta of 1.60. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $212.94.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. Analysts predict that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, Director Lauren Friedman Stat sold 5,026 shares of the firm's stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $199.00, for a total transaction of $1,000,174.00. Following the completion of the sale, the director directly owned 46,402 shares of the company's stock, valued at approximately $9,233,998. This trade represents a 9.77% decrease in their position. 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, insider Jeffrey Buckley sold 1,250 shares of Palantir Technologies stock in a transaction on Friday, August 21st. The stock was sold at an average price of $174.29, for a total transaction of $217,862.50. Following the sale, the insider directly owned 56,921 shares in the company, valued at $9,920,761.09. This trade represents a 2.15% 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. Over the last three months, insiders have sold 560,390 shares of company stock valued at $97,909,177. 9.53% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Palantir and Ondas launched Regna AI, a venture focused on sovereign-AI solutions for defense and enterprise missions. The initiative could expand Palantir’s opportunities in autonomous systems, surveillance and other mission-critical applications. Regna AI launch
• Positive Sentiment: Palantir expanded its commercial reach through a collaboration with Customers Bank, which will deploy the Foundry and AIP platforms to automate commercial-client onboarding. The agreement supports the company’s strategy of diversifying beyond government and defense customers. Customers Bank collaboration
• Neutral Sentiment: Analyst sentiment remains broadly constructive, including Goldman Sachs’ upgrade to Buy and recent targets above the current trading range. However, coverage also emphasizes that expectations are high ahead of Palantir’s November 2 third-quarter earnings report. Analyst views ahead of earnings
• Negative Sentiment: Broader technology and AI stocks sold off as investors questioned how the industry will finance its large-scale AI buildout and which companies will ultimately generate sufficient returns. Palantir was pulled lower along with other enterprise-software shares. Enterprise software selloff
• Negative Sentiment: Valuation concerns are intensifying after the rally. Commentary highlights a price-to-earnings multiple near 170 times, leaving limited room for slower growth, weaker guidance or an earnings reaction that falls short of elevated expectations. Palantir valuation analysis
• Negative Sentiment: Insider-sale disclosures added to selling pressure. Recent filings show sales by directors and other executives, including transactions made under prearranged Rule 10b5-1 plans; these do not necessarily signal deteriorating fundamentals but can weigh on sentiment and increase available supply. Palantir insider sales

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. UBS Group increased their target price on shares of Palantir Technologies from $220.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, September 15th. Benchmark restated a "hold" rating on shares of Palantir Technologies in a report on Tuesday, August 4th. Citigroup cut shares of Palantir Technologies from a "buy" rating to a "market perform" rating in a research report on Tuesday, August 4th. Barclays began coverage on shares of Palantir Technologies in a research note on Friday, October 9th. They set an "overweight" rating and a $265.00 price objective for the company. Finally, Phillip Securities downgraded shares of Palantir Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $201.61.

About Palantir Technologies

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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