Palantir Technologies Inc. $PLTR Stock: Old North State Wealth Management LLC Raises Stake

Key Points

• Old North State Wealth Management increased its Palantir stake by 619.2% in the third quarter, bringing its holdings to 17,016 shares valued at approximately $3.18 million. Institutional investors collectively own 45.65% of PLTR.
• Palantir reported stronger-than-expected quarterly results, with EPS of $0.41 versus the $0.34 consensus and revenue of $1.94 billion, up 92.8% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $203.45.
• Valuation and insider selling remain key risks. Shares trade at roughly 168 times earnings, while insiders sold about $97.9 million worth of stock over the past 90 days; the upcoming earnings report is viewed as an important catalyst.

Old North State Wealth Management LLC lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 619.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,016 shares of the company's stock after acquiring an additional 14,650 shares during the quarter. Old North State Wealth Management LLC's holdings in Palantir Technologies were worth $3,183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PLTR. Jennison Associates LLC purchased a new position in Palantir Technologies during the 1st quarter worth $1,574,111,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Palantir Technologies by 277.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company's stock worth $1,528,143,000 after buying an additional 7,678,747 shares during the period. Bank of America Corp DE lifted its holdings in shares of Palantir Technologies by 28.7% in the 1st quarter. Bank of America Corp DE now owns 18,839,779 shares of the company's stock worth $2,755,883,000 after buying an additional 4,201,852 shares during the period. Janus Henderson Group PLC grew its position in shares of Palantir Technologies by 795.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,323,141 shares of the company's stock worth $480,247,000 after buying an additional 2,952,079 shares in the last quarter. Finally, State Street Corp grew its position in shares of Palantir Technologies by 2.8% during the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company's stock worth $12,190,903,000 after buying an additional 2,863,874 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Trading Down 2.7%

PLTR opened at $196.19 on Friday. The firm has a market cap of $471.46 billion, a price-to-earnings ratio of 167.68, a PEG ratio of 3.55 and a beta of 1.60. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $212.94. The stock has a fifty day moving average price of $184.30 and a 200-day moving average price of $153.47.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The company 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%. Palantir Technologies's revenue for the quarter was up 92.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.31 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the subject of several recent research reports. Robert W. Baird set a $250.00 price objective on Palantir Technologies in a report on Monday, October 12th. DA Davidson increased their target price on shares of Palantir Technologies from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, September 11th. Royal Bank Of Canada reiterated an "underperform" rating and set a $90.00 target price on shares of Palantir Technologies in a report on Friday, July 31st. Cantor Fitzgerald started coverage on shares of Palantir Technologies in a research report on Tuesday, August 4th. They set an "overweight" rating on the stock. Finally, Citigroup boosted 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. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of "Moderate Buy" and an average price target of $203.45.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Analyst support remains strong. Citi raised its price target to $250 from $245 while maintaining a Buy rating. Other Wall Street firms reportedly see targets ranging from $230 to $265, implying further upside if Palantir delivers solid third-quarter results. Citi raises Palantir stock price target
• Positive Sentiment: New partnerships broaden Palantir’s commercial opportunity. The company expanded its AI partnership with Stagwell to develop enterprise marketing solutions and elevated Aplos Data to its top-tier Vanguard: Elite partner network. Palantir also highlighted additional sovereign-AI deployments and a Knox Systems partnership focused on secure government-cloud environments. Stagwell and Palantir expand AI partnership
• Neutral Sentiment: Nov. 2 earnings are the key near-term catalyst. Analysts expect results and management’s outlook to determine whether Palantir can sustain its growth trajectory. The company’s prior quarter featured revenue growth of nearly 93% and an earnings beat, while technical analysts note that the shares are holding above an important support level.
• Negative Sentiment: Valuation is limiting investor tolerance for disappointment. With a market capitalization near $471 billion and a trailing P/E above 160, the stock already reflects years of exceptional execution. Concerns include Palantir’s projected revenue slowdown and Gartner’s warning about whether forward-deployed AI can scale economically. These risks likely contributed to profit-taking despite reassuring NATO about system controls and continued positive business announcements. Palantir: The business is booming, but the stock has a problem

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 18,000 shares of the business's stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $201.15, for a total transaction of $3,620,700.00. Following the transaction, the insider directly owned 274,667 shares in the company, valued at $55,249,267.05. The trade was a 6.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Friedman Stat sold 5,026 shares of the business's 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 approximately $9,233,998. This trade represents a 9.77% 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. In the last 90 days, insiders sold 560,390 shares of company stock valued at $97,909,177. Corporate insiders own 9.53% of the company's stock.

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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