Palantir Technologies Inc. $PLTR Stock Sold by BRIA Capital Group LLC

Key Points

• BRIA Capital Group cut its Palantir stake by 40.8% in the third quarter, selling 6,454 shares and retaining 9,373 shares valued at approximately $1.75 million.
• Palantir reported strong operating momentum, with quarterly revenue up 92.8% year over year to $1.94 billion and EPS of $0.41, exceeding analysts’ $0.34 estimate. However, the stock trades at a very elevated valuation, including a price-to-earnings ratio above 168.
• The November 2 earnings report is the next major catalyst, with investors focused on revenue growth, customer momentum, margins and guidance. Analyst views remain mixed, though the consensus rating is “Moderate Buy” with a $203.48 price target.

BRIA Capital Group LLC lessened its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 40.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,373 shares of the company's stock after selling 6,454 shares during the quarter. Palantir Technologies comprises 1.2% of BRIA Capital Group LLC's holdings, making the stock its 24th largest position. BRIA Capital Group LLC's holdings in Palantir Technologies were worth $1,753,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PLTR. Jennison Associates LLC acquired a new position in Palantir Technologies in the 1st quarter valued at $1,574,111,000. Arrowstreet Capital Limited Partnership boosted its stake in Palantir Technologies by 277.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company's stock worth $1,528,143,000 after purchasing an additional 7,678,747 shares during the last quarter. Bank of America Corp DE boosted its stake in Palantir Technologies by 28.7% during 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 purchasing an additional 4,201,852 shares during the last quarter. Janus Henderson Group PLC boosted its stake in 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 purchasing an additional 2,952,079 shares during the last quarter. Finally, State Street Corp raised its position in shares of Palantir Technologies by 2.8% in the second quarter. State Street Corp now owns 104,490,468 shares of the company's stock valued at $12,190,903,000 after buying an additional 2,863,874 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In related news, insider Jeffrey Buckley sold 2,055 shares of the company's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $174.83, for a total value of $359,275.65. Following the completion of the transaction, the insider directly owned 58,171 shares of the company's stock, valued at $10,170,035.93. This represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 the business's stock in a transaction on Thursday, October 8th. The shares were 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 directly owned 274,667 shares of the company's stock, valued at approximately $55,249,267.05. This trade represents a 6.15% 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. Insiders sold a total of 560,390 shares of company stock valued at $97,909,177 over the last three months. 9.53% of the stock is owned by corporate insiders.

Palantir Technologies Trading Up 0.3%

NASDAQ:PLTR opened at $196.75 on Friday. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $212.94. The firm has a market cap of $472.80 billion, a PE ratio of 168.16, a price-to-earnings-growth ratio of 3.45 and a beta of 1.60. The stock has a fifty day moving average price of $184.76 and a 200 day moving average price of $153.78.

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 the consensus estimate 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%. 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. Equities analysts forecast that Palantir Technologies Inc. will post 1.31 EPS for the current year.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Royal Bank Of Canada reissued an "underperform" rating and set a $90.00 price objective on shares of Palantir Technologies in a research note on Friday, July 31st. Needham & Company LLC set a $215.00 target price on shares of Palantir Technologies in a report on Tuesday, August 11th. Mizuho boosted their target price on Palantir Technologies from $215.00 to $245.00 and gave the company an "outperform" rating in a research report on Thursday, October 15th. Jefferies Financial Group restated an "underperform" rating and set a $80.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, Northland Securities set a $200.00 price objective on Palantir Technologies in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $203.48.

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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