Palantir Technologies Inc. $PLTR Stock Sold by AlphaStar Capital Management LLC

Key Points

• AlphaStar Capital Management cut its Palantir stake by 10.8% in the third quarter, selling 19,681 shares and retaining 162,410 shares valued at approximately $30.4 million. Institutional investors own 45.65% of the company.
• Analyst sentiment remains broadly positive, with Palantir carrying a “Moderate Buy” consensus rating and an average price target of $201.61. Goldman Sachs upgraded the stock to “Buy” with a $230 target, though some analysts have moved to more cautious ratings.
• Palantir recently reported stronger-than-expected quarterly results, including $0.41 in adjusted EPS versus a $0.34 estimate and 92.8% year-over-year revenue growth. However, the stock’s elevated valuation and substantial insider selling—including $97.9 million in sales last quarter—remain potential concerns.

AlphaStar Capital Management LLC trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 10.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,410 shares of the company's stock after selling 19,681 shares during the period. Palantir Technologies comprises 1.8% of AlphaStar Capital Management LLC's holdings, making the stock its 15th largest position. AlphaStar Capital Management LLC's holdings in Palantir Technologies were worth $30,379,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Forum Financial Management LP raised its stake in shares of Palantir Technologies by 7.2% during the 3rd quarter. Forum Financial Management LP now owns 15,781 shares of the company's stock worth $2,952,000 after purchasing an additional 1,060 shares in the last quarter. RKL Wealth Management LLC acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at approximately $340,000. Hengehold Capital Management LLC boosted its holdings in shares of Palantir Technologies by 27.9% in the 3rd quarter. Hengehold Capital Management LLC now owns 2,542 shares of the company's stock valued at $475,000 after buying an additional 554 shares during the last quarter. McKinley Carter Wealth Services Inc. bought a new position in shares of Palantir Technologies in the third quarter valued at $336,000. Finally, Sweeney & Michel LLC grew its stake in shares of Palantir Technologies by 3.6% in the third quarter. Sweeney & Michel LLC now owns 3,952 shares of the company's stock valued at $739,000 after buying an additional 139 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. William Blair restated an "outperform" rating on shares of Palantir Technologies in a report on Wednesday, August 26th. Phillip Securities cut shares of Palantir Technologies from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 12th. 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. Northland Securities set a $200.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, Roth Capital initiated coverage on shares of Palantir Technologies in a research note on Tuesday, August 4th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $201.61.

Insider Buying and Selling at Palantir Technologies

In related news, insider Alexander Karp sold 492,348 shares of the firm'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 transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at approximately $1,124,294,375.82. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Ryan Taylor sold 18,000 shares of Palantir Technologies stock in a transaction dated 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 completion of the sale, the insider owned 274,667 shares of the company's stock, valued at $55,249,267.05. This trade represents a 6.15% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 560,390 shares of company stock valued at $97,909,177 in the last quarter. Company insiders own 9.53% of the company's stock.

Palantir Technologies Trading Down 7.2%

NASDAQ:PLTR opened at $186.03 on Friday. The stock has a 50 day simple moving average of $182.61 and a 200 day simple moving average of $152.00. The stock has a market cap of $447.04 billion, a P/E ratio of 159.00, a PEG ratio of 3.27 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 issued its quarterly earnings data on Monday, August 3rd. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The company's revenue for the quarter was up 92.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 1.31 EPS for the current year.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir and Ondas launched Regna AI, a venture focused on sovereign-AI solutions for defense and enterprise missions. The initiative could expand Palantir’s opportunities in autonomous systems, surveillance and other mission-critical applications. Regna AI launch
• Positive Sentiment: Palantir expanded its commercial reach through a collaboration with Customers Bank, which will deploy the Foundry and AIP platforms to automate commercial-client onboarding. The agreement supports the company’s strategy of diversifying beyond government and defense customers. Customers Bank collaboration
• Neutral Sentiment: Analyst sentiment remains broadly constructive, including Goldman Sachs’ upgrade to Buy and recent targets above the current trading range. However, coverage also emphasizes that expectations are high ahead of Palantir’s November 2 third-quarter earnings report. Analyst views ahead of earnings
• Negative Sentiment: Broader technology and AI stocks sold off as investors questioned how the industry will finance its large-scale AI buildout and which companies will ultimately generate sufficient returns. Palantir was pulled lower along with other enterprise-software shares. Enterprise software selloff
• Negative Sentiment: Valuation concerns are intensifying after the rally. Commentary highlights a price-to-earnings multiple near 170 times, leaving limited room for slower growth, weaker guidance or an earnings reaction that falls short of elevated expectations. Palantir valuation analysis
• Negative Sentiment: Insider-sale disclosures added to selling pressure. Recent filings show sales by directors and other executives, including transactions made under prearranged Rule 10b5-1 plans; these do not necessarily signal deteriorating fundamentals but can weigh on sentiment and increase available supply. Palantir insider sales

About Palantir Technologies

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.