Palantir Technologies Inc. $PLTR Stock Position Boosted by Royal Palms Capital LLC

Key Points

• Royal Palms Capital increased its Palantir stake by 49.1% in the third quarter, bringing its holdings to 8,050 shares valued at approximately $1.5 million. Institutional investors and hedge funds collectively own 45.65% of PLTR.
• Analyst sentiment remains broadly positive: Palantir has a consensus “Moderate Buy” rating and an average price target of $203.48, despite Zacks downgrading the stock to “Hold.”
• Palantir’s shares trade at a highly elevated valuation, including a P/E ratio of 168.16, while insiders sold roughly $97.9 million of stock over the past 90 days. The upcoming earnings report is expected to test revenue growth, customer momentum, margins and forward guidance.

Royal Palms Capital LLC boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 49.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,050 shares of the company's stock after acquiring an additional 2,650 shares during the quarter. Royal Palms Capital LLC's holdings in Palantir Technologies were worth $1,506,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jennison Associates LLC acquired a new position in shares of Palantir Technologies during the first quarter worth $1,574,111,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Palantir Technologies by 277.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company's stock valued at $1,528,143,000 after purchasing an additional 7,678,747 shares during the period. Bank of America Corp DE boosted its stake in shares of Palantir Technologies by 28.7% in the first quarter. Bank of America Corp DE now owns 18,839,779 shares of the company's stock valued at $2,755,883,000 after purchasing an additional 4,201,852 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Palantir Technologies by 795.6% in the first quarter. Janus Henderson Group PLC now owns 3,323,141 shares of the company's stock valued at $480,247,000 after purchasing an additional 2,952,079 shares during the period. Finally, State Street Corp grew its holdings in Palantir Technologies by 2.8% during 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. Institutional investors and hedge funds own 45.65% of the company's stock.

Wall Street Analyst Weigh In

PLTR has been the topic of several analyst reports. Zacks Research downgraded shares of Palantir Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. UBS Group upped their price objective on shares of Palantir Technologies from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, September 15th. The Goldman Sachs Group raised shares of Palantir Technologies from a "neutral" rating to a "buy" rating and set a $230.00 price objective for the company in a research report on Thursday, October 8th. William Blair restated an "outperform" rating on shares of Palantir Technologies in a research note on Wednesday, August 26th. Finally, Piper Sandler lifted their target price on Palantir Technologies from $230.00 to $231.00 and gave the stock an "overweight" rating in a research report on Friday. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $203.48.

Insider Activity

In other news, Director Lauren Friedman Stat sold 5,026 shares of the business's stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $199.00, for a total value of $1,000,174.00. Following the completion of the sale, the director 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 492,348 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $174.79, for a total transaction of $86,057,506.92. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at approximately $1,124,294,375.82. This trade represents a 7.11% decrease in their position. 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. Insiders sold a total of 560,390 shares of company stock worth $97,909,177 over the last ninety days. Insiders own 9.53% of the company's stock.

Key Headlines Impacting 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

Palantir Technologies Price Performance

Shares of PLTR opened at $196.75 on Monday. The firm has a market cap of $472.80 billion, a price-to-earnings ratio of 168.16, a PEG ratio of 3.46 and a beta of 1.60. The business's 50 day moving average is $184.76 and its two-hundred day moving average is $153.82. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week 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. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter last year, the company earned $0.16 earnings per share. The business's quarterly revenue was up 92.8% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies Inc. will post 1.31 earnings per share for the current fiscal 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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