Palantir Technologies Inc. $PLTR Stock Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management cut its Palantir stake by 54.1% in the third quarter, selling 37,597 shares and retaining 31,900 shares valued at approximately $6.0 million.
• Palantir reported strong operating results, with quarterly revenue rising 92.8% year over year to $1.94 billion and earnings of $0.41 per share, beating analyst expectations.
• PLTR traded around $201.72, but its elevated valuation—including a price-to-earnings ratio above 172—coincides with recent insider and institutional selling, despite generally positive analyst ratings and continued AI-related demand.

Axxcess Wealth Management LLC reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 54.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 31,900 shares of the company's stock after selling 37,597 shares during the period. Axxcess Wealth Management LLC's holdings in Palantir Technologies were worth $5,967,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Palantir Technologies by 0.4% in the 2nd quarter. BlackRock Inc. now owns 189,817,693 shares of the company's stock valued at $22,146,030,000 after buying an additional 757,322 shares during the period. State Street Corp increased its position in Palantir Technologies by 2.8% during the second quarter. State Street Corp now owns 104,490,468 shares of the company's stock worth $12,190,903,000 after purchasing an additional 2,863,874 shares during the last quarter. Bank of America Corp DE increased its position in Palantir Technologies by 1.0% during the second quarter. Bank of America Corp DE now owns 19,020,265 shares of the company's stock worth $2,219,094,000 after purchasing an additional 180,486 shares during the last quarter. Amundi grew its stake in shares of Palantir Technologies by 7.4% during the 2nd quarter. Amundi now owns 17,623,053 shares of the company's stock valued at $2,056,082,000 after buying an additional 1,212,653 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter valued at $1,574,111,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 4.7%

PLTR opened at $201.72 on Thursday. The firm has a market cap of $484.75 billion, a price-to-earnings ratio of 172.41, a PEG ratio of 3.39 and a beta of 1.60. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $212.94. The company has a fifty day simple moving average of $183.96 and a 200 day simple moving average of $153.14.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The firm had revenue of $1.94 billion during 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%. Palantir Technologies's quarterly revenue was up 92.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 EPS. On average, analysts forecast that Palantir Technologies Inc. will post 1.31 earnings per share for the current fiscal year.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: Expanded sovereign-AI deployments: Palantir said it has delivered sovereign-AI capabilities to a new group of flagship customers, including L3Harris, McCarthy Building Companies, NVIDIA and Ondas. The announcement reinforces demand for Palantir’s Foundry, Ontology and Artificial Intelligence Platform (AIP), particularly among organizations requiring secure control of data and AI infrastructure. Palantir Accelerates Delivery of Sovereign AI to New Wave of Customers
• Positive Sentiment: Secure government-cloud partnership: Palantir’s agreement with Knox Systems is designed to expand deployments in FedRAMP and Impact Level 5 government-cloud environments. Investors viewed the deal as another potential catalyst for federal demand, contributing to the stock’s rebound ahead of its next earnings test. Palantir Technologies Signs Knox Partnership
• Positive Sentiment: AI-sector momentum: Buyers rotated into AI platform companies, helping Palantir outperform several software peers. Analyst Dan Ives also argues that the AI infrastructure and software spending cycle is still in its early stages, with sovereign AI providing Palantir an additional long-term growth opportunity. The AI Buildout Is Only 15% Complete
• Neutral Sentiment: Analysts raised targets: Mizuho and Baird reportedly lifted their Palantir price targets to $245 and $250, respectively, reflecting confidence in strong revenue growth and AI demand. These targets may support sentiment, but they do not remove execution risk or guarantee further upside. Palantir Stock Bounces Back Ahead of November Earnings Test
• Negative Sentiment: Extreme valuation and selling pressure: Palantir trades at a very high earnings multiple, leading analysts to warn that its price already discounts years of exceptional execution. ARK Invest also continued selling PLTR shares, while reported insider and ETF selling add potential overhead. PLTR Stock’s Biggest Risk Is Its Price

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Friedman Stat sold 5,026 shares of the 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 transaction, the director directly owned 46,402 shares in the company, valued at $9,233,998. This represents a 9.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ryan D. Taylor sold 18,000 shares of the firm'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 of the company's stock, valued at approximately $55,249,267.05. This represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 560,390 shares of company stock valued at $97,909,177. 9.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research analyst reports. Barclays began coverage on Palantir Technologies in a report on Friday, October 9th. They set an "overweight" rating and a $265.00 price objective for the company. Oppenheimer downgraded shares of Palantir Technologies from an "outperform" rating to a "market perform" rating in a research note on Tuesday, August 4th. The Goldman Sachs Group upgraded 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 note on Thursday, October 8th. Raymond James Financial raised shares of Palantir Technologies from a "hold" rating to a "moderate buy" rating in a research report on Thursday, October 8th. Finally, Weiss Ratings upgraded Palantir Technologies from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $203.28.

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.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

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.