Palantir Technologies Inc. $PLTR Stock Acquired by Allworth Financial LP

Key Points

• Allworth Financial increased its Palantir stake by 14.2% in the third quarter, to 113,592 shares valued at about $21.2 million. Institutional investors and hedge funds collectively own 45.65% of the stock.
• Palantir beat quarterly earnings and revenue expectations, reporting EPS of $0.44 versus $0.41 expected and revenue of $2.31 billion versus $2.18 billion; revenue rose 95.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $216.20. Shares were down 2.1% and opened at $167.99.

Allworth Financial LP boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 14.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 113,592 shares of the company's stock after purchasing an additional 14,102 shares during the quarter. Allworth Financial LP's holdings in Palantir Technologies were worth $21,247,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Ballast Advisors LLC acquired a new stake in Palantir Technologies in the first quarter valued at approximately $29,000. Axiom Investment Management LLC lifted its stake in Palantir Technologies by 181.8% during the third quarter. Axiom Investment Management LLC now owns 155 shares of the company's stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Navigoe LLC lifted its stake in Palantir Technologies by 17,500.0% during the third quarter. Navigoe LLC now owns 176 shares of the company's stock worth $32,000 after purchasing an additional 175 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Palantir Technologies in the second quarter worth $35,000. Finally, Laurel Wealth Advisors LLC acquired a new position in Palantir Technologies in the third quarter worth $35,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Phillip Securities lowered shares of Palantir Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 12th. Needham & Company LLC set a $215.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 11th. Zacks Research downgraded Palantir Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. Royal Bank Of Canada increased their target price on shares of Palantir Technologies from $90.00 to $130.00 and gave the stock an "underperform" rating in a research report on Tuesday, November 3rd. Finally, Fubon began coverage on shares of Palantir Technologies in a research report on Tuesday. They issued a "buy" rating and a $200.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.20.

Palantir Technologies Stock Down 2.1%

Shares of PLTR stock opened at $167.99 on Friday. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $212.94. The company's fifty day simple moving average is $184.79 and its 200-day simple moving average is $153.82. The firm has a market cap of $403.69 billion, a PE ratio of 117.48, a P/E/G ratio of 3.47 and a beta of 1.65.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, November 2nd. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.03. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.18 billion. Palantir Technologies had a return on equity of 30.49% and a net margin of 50.34%. The business's revenue was up 95.9% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. On average, equities analysts predict that Palantir Technologies Inc. will post 1.36 earnings per share for the current fiscal year.

Top Palantir Technologies Stories

These are some of the PLTR stories that stood out recently:

• Positive Sentiment: Recent commentary argues Palantir’s growth story remains strong, with its AI software helping drive substantial business momentum. This provides a fundamental counterpoint to the stock’s recent weakness. Article: Palantir: High-Quality Growth Should Never Be Cheap
• 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

Insider Activity at Palantir Technologies

In other news, insider Jeffrey Buckley sold 2,055 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $174.83, for a total transaction of $359,275.65. Following the sale, the insider directly owned 58,171 shares of the company's stock, valued at approximately $10,170,035.93. This represents a 3.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Alexander Karp sold 492,348 shares of Palantir Technologies stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $174.79, for a total value of $86,057,506.92. Following the completion of the transaction, the insider 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 disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders sold 908,396 shares of company stock valued at $157,146,307. 9.53% of the stock is currently owned by company insiders.

Palantir Technologies Profile

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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