Palantir Technologies Inc. $PLTR Stock: Convergence Financial LLC Lowers Holdings

Key Points

• Convergence Financial LLC cut its Palantir stake by 33.6% in the third quarter, selling 7,354 shares and retaining 14,509 shares valued at approximately $2.7 million. Institutional investors collectively own 45.65% of PLTR.
• Palantir insiders sold approximately 560,390 shares worth $97.9 million during the latest quarter, including transactions by an insider and a director conducted under pre-arranged Rule 10b5-1 plans.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $205.55 target price, but Palantir’s elevated valuation—a P/E ratio near 168—leaves the stock vulnerable if growth or earnings guidance disappoints.

Convergence Financial LLC reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,509 shares of the company's stock after selling 7,354 shares during the quarter. Convergence Financial LLC's holdings in Palantir Technologies were worth $2,714,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PLTR. Ballast Advisors LLC bought a new stake in shares of Palantir Technologies in the 1st quarter valued at about $29,000. Retirement Wealth Solutions LLC lifted its stake in Palantir Technologies by 51.7% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 217 shares of the company's stock valued at $41,000 after purchasing an additional 74 shares during the last quarter. Dakota Community Bank & Trust NA grew its holdings in Palantir Technologies by 219.1% during the third quarter. Dakota Community Bank & Trust NA now owns 217 shares of the company's stock worth $41,000 after purchasing an additional 149 shares during the period. Whipplewood Advisors LLC bought a new position in Palantir Technologies during the first quarter worth about $32,000. Finally, PFS Partners LLC grew its holdings in Palantir Technologies by 28.9% during the third quarter. PFS Partners LLC now owns 250 shares of the company's stock worth $47,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 2,055 shares of the company's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $174.83, for a total value of $359,275.65. Following the transaction, the insider directly owned 58,171 shares of the company's stock, valued at $10,170,035.93. This represents a 3.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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, Director Lauren Friedman Stat sold 5,026 shares of the 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 in the company, valued at $9,233,998. The trade was a 9.77% 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. Over the last quarter, insiders sold 560,390 shares of company stock worth $97,909,177. 9.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on Palantir Technologies in a research note on Tuesday, August 4th. They issued an "overweight" rating on the stock. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Wednesday. Northland Securities set a $200.00 target price on Palantir Technologies in a research note on Tuesday, August 4th. Barclays started coverage on Palantir Technologies in a report on Friday, October 9th. They set an "overweight" rating and a $265.00 target price on the stock. Finally, UBS Group increased their price target on Palantir Technologies from $220.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, September 15th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $205.55.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir’s strong operating momentum remains a potential catalyst. Analysts expect third-quarter earnings of approximately $0.41 per share, while recent coverage points to accelerating demand from U.S. commercial and government customers, expanding margins and additional business from existing clients. Palantir Could Crush Q3 Earnings, But 1 Risk Could Spoil the Rally
• Positive Sentiment: The company’s partner expansion could support future commercial growth. Aplos Data was elevated to Palantir’s Vanguard: Elite partner status, potentially widening deployment of Foundry and Palantir’s Artificial Intelligence Platform among U.S. businesses. Palantir Technologies Deepens U.S. Reach With New Vanguard Elite Partner
• Neutral Sentiment: Options markets imply an unusually large move of roughly 11.65% following the November 2 earnings release, highlighting elevated event risk rather than signaling a clear direction. Investors are focused on U.S. commercial customer growth, free cash flow and management’s guidance. Palantir Stock Could Swing 11.65% After Q3 Earnings
• Negative Sentiment: RBC Capital issued a fresh warning ahead of earnings, reinforcing concerns that Palantir must deliver exceptionally strong results and guidance to justify its elevated valuation. The stock trades at roughly 168 times earnings, leaving limited room for disappointment. Palantir Stock Falls After RBC Delivers Fresh Warning Ahead of Earnings
• Negative Sentiment: Additional commentary describes Palantir as a crowded, richly valued AI trade. Higher interest rates could compress high-growth technology multiples, while any slowdown in revenue growth, free cash flow or customer additions could trigger a sharper pullback. Palantir Stock Could Be 5% Above Fair Value

Palantir Technologies Stock Performance

Shares of PLTR opened at $196.81 on Thursday. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $212.94. The firm has a market cap of $472.95 billion, a P/E ratio of 168.21, a price-to-earnings-growth ratio of 3.46 and a beta of 1.60. The firm's 50-day simple moving average is $186.28 and its 200 day simple moving average is $153.79.

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, beating the consensus estimate of $0.34 by $0.07. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The business's revenue was up 92.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS. As a group, equities analysts forecast that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.

Palantir Technologies Company 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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