Palantir Technologies Inc. $PLTR Stock: Kingswood Wealth Advisors LLC Cuts Stake

Key Points

• Kingswood Wealth Advisors cut its Palantir stake by 12.5% in the third quarter, selling 12,117 shares and retaining 84,457 shares valued at approximately $15.8 million.
• Institutional ownership is mixed: BlackRock, State Street, Bank of America and Amundi increased their positions, while overall institutional investors own 45.65% of Palantir. Insiders have also sold roughly $97.9 million of shares over the past 90 days, primarily through pre-arranged plans.
• Palantir’s stock trades at a lofty valuation, with a price-to-earnings ratio of 168.16, making its upcoming earnings report a key catalyst. Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $203.48.

Kingswood Wealth Advisors LLC lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 12.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 84,457 shares of the company's stock after selling 12,117 shares during the quarter. Palantir Technologies comprises 0.6% of Kingswood Wealth Advisors LLC's investment portfolio, making the stock its 29th largest holding. Kingswood Wealth Advisors LLC's holdings in Palantir Technologies were worth $15,798,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Palantir Technologies by 0.4% in the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company's stock valued at $22,146,030,000 after acquiring an additional 757,322 shares during the period. State Street Corp grew its stake in Palantir Technologies by 2.8% during the second quarter. State Street Corp now owns 104,490,468 shares of the company's stock valued at $12,190,903,000 after acquiring an additional 2,863,874 shares in the last quarter. Bank of America Corp DE increased its holdings in Palantir Technologies by 1.0% during the 2nd quarter. Bank of America Corp DE now owns 19,020,265 shares of the company's stock worth $2,219,094,000 after acquiring an additional 180,486 shares during the period. Amundi increased its holdings in 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 acquiring an additional 1,212,653 shares during the period. Finally, Jennison Associates LLC bought a new stake in Palantir Technologies during the 1st quarter worth approximately $1,574,111,000. 45.65% of the stock is currently owned by institutional investors.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Investors expect Palantir to outperform its third-quarter revenue guidance of approximately $2.16 billion, based on the company’s recent history of exceeding forecasts. A stronger result or raised outlook could support the stock’s rally. Palantir Guided for $2.16 Billion in Revenue for Q3
• Positive Sentiment: Analyst Dan Ives said Palantir and Snowflake are approaching the point where significant AI infrastructure spending translates into software monetization, and he believes Wall Street may be underestimating technology earnings potential. Dan Ives on AI Monetization
• Positive Sentiment: Citi raised its Palantir price target from $245 to $250 while maintaining a Buy rating, adding to bullish expectations ahead of the earnings release. Citi Raises Palantir Stock Price Target
• Positive Sentiment: Palantir is expanding its commercial and government reach through partnerships with Stagwell and Knox Systems, while elevating Aplos Data within its partner network to help deploy Foundry and AIP to additional customers. Palantir and Stagwell Expand AI Partnership
• Neutral Sentiment: The November 2 earnings report is the immediate catalyst. Investors will watch revenue growth, commercial customer momentum, margins and forward guidance to determine whether Palantir can justify its near-record valuation. Should You Buy or Sell Palantir Ahead of Earnings?
• Negative Sentiment: Palantir trades at a very elevated earnings multiple, and some analysts see limited additional upside. Any slowdown relative to expectations could prompt profit-taking or a sharp pullback. Palantir: The Business Is Booming, But the Stock Has a Problem
• Negative Sentiment: ARK Invest trimmed its Palantir position, while concerns about the scalability and economics of forward-deployed AI add pressure to the bullish thesis. Cathie Wood Trims Palantir Shares

Insider Activity

In other news, Director Lauren Friedman Stat sold 5,026 shares of Palantir Technologies 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. The trade was a 9.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander Karp sold 492,348 shares of Palantir Technologies stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $174.79, for a total transaction of $86,057,506.92. Following the sale, the insider directly owned 6,432,258 shares of the company's stock, valued at $1,124,294,375.82. This represents a 7.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 90 days, insiders have sold 560,390 shares of company stock worth $97,909,177. Corporate insiders own 9.53% of the company's stock.

Palantir Technologies Stock Performance

PLTR stock opened at $196.75 on Monday. The company's 50 day moving average is $184.76 and its 200 day moving average is $153.82. The stock has a market cap of $472.80 billion, a price-to-earnings ratio of 168.16, a price-to-earnings-growth ratio of 3.46 and a beta of 1.60. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-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 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The business had revenue of $1.94 billion during 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 quarterly revenue was up 92.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLTR. Citigroup raised their price target on shares of Palantir Technologies from $245.00 to $250.00 and gave the company a "buy" rating in a report on Thursday. Northland Securities set a $200.00 price target on shares of Palantir Technologies in a report on Tuesday, August 4th. Needham & Company LLC set a $215.00 price target on shares of Palantir Technologies in a report on Tuesday, August 11th. Mizuho increased their price objective on Palantir Technologies from $215.00 to $245.00 and gave the stock an "outperform" rating in a research report on Thursday, October 15th. Finally, UBS Group lifted their price objective 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 given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $203.48.

Palantir Technologies 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.