Parkway Wealth Management Group LLC Sells 24,831 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Parkway Wealth Management Group cut its Palantir stake by 90.8%, selling 24,831 shares and retaining 2,522 shares worth approximately $472,000.
• Palantir reported quarterly EPS of $0.41 versus the $0.34 analyst estimate, while revenue reached $1.94 billion, up 92.8% year over year. Institutional investors own 45.65% of the company.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $203.28, but Palantir’s valuation remains a key risk, with a market capitalization near $467 billion and a P/E ratio above 165.

Parkway Wealth Management Group LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 90.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,522 shares of the company's stock after selling 24,831 shares during the period. Parkway Wealth Management Group LLC's holdings in Palantir Technologies were worth $472,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Palantir Technologies by 0.4% during the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company's stock worth $22,146,030,000 after buying an additional 757,322 shares during the period. State Street Corp increased its position in shares of Palantir Technologies by 2.8% during the second quarter. State Street Corp now owns 104,490,468 shares of the company's stock valued at $12,190,903,000 after acquiring an additional 2,863,874 shares during the last quarter. Bank of America Corp DE raised its stake 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 valued at $2,755,883,000 after acquiring an additional 4,201,852 shares during the period. Amundi raised its stake in shares of Palantir Technologies by 2.5% in the 1st quarter. Amundi now owns 16,410,400 shares of the company's stock valued at $2,400,513,000 after acquiring an additional 398,093 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of Palantir Technologies in the 1st quarter valued at approximately $1,574,111,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $194.15 on Tuesday. The stock has a market capitalization of $466.55 billion, a price-to-earnings ratio of 165.94, a price-to-earnings-growth ratio of 3.27 and a beta of 1.60. The business has a 50-day moving average of $182.99 and a 200 day moving average of $152.44. Palantir Technologies Inc. has a 12 month low of $106.37 and a 12 month high of $212.94.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The business's revenue for the quarter was up 92.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 earnings per share. Equities research analysts anticipate that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Jeffrey Buckley sold 1,250 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $174.29, for a total value of $217,862.50. Following the completion of the transaction, the insider owned 56,921 shares in the company, valued at approximately $9,920,761.09. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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, Director Eric H. Woersching sold 1,000 shares of the company's stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $205.00, for a total transaction of $205,000.00. Following the sale, the director directly owned 3,465 shares in the company, valued at approximately $710,325. The trade was a 22.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 560,390 shares of company stock valued at $97,909,177. Corporate insiders own 9.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Needham & Company LLC set a $215.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 11th. Wolfe Research assumed coverage on shares of Palantir Technologies in a research report on Tuesday, August 4th. They set a "buy" rating for the company. Yorkville Ives assumed coverage on shares of Palantir Technologies in a report on Tuesday, October 6th. They issued an "outperform" rating and a $250.00 target price for the company. UBS Group boosted their target price on Palantir Technologies from $220.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, September 15th. Finally, Raymond James Financial raised Palantir Technologies from a "hold" rating to a "moderate buy" rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $203.28.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir announced a partnership with Knox Systems to accelerate secure software and AI deployments for federal customers operating in FedRAMP and IL5 environments. Knox’s managed-cloud and compliance capabilities could shorten government implementation timelines and strengthen Palantir’s position in defense and other mission-critical agencies. Knox and Palantir Partner to Further Accelerate Delivery of Software through Largest Federal Cloud
• Positive Sentiment: The Knox announcement prompted a rebound in PLTR shares after a recent technology-sector selloff. Analysts and commentators view the agreement, along with Palantir’s TITAN defense-system deliveries, as evidence that the company’s AI offerings are moving from pilot projects into recurring operational deployments. Why Palantir Technologies Stock Rallied Today
• Positive Sentiment: Broader AI spending and demand for sovereign AI, cybersecurity, and government data infrastructure provide a favorable backdrop for Palantir. One market commentator identified PLTR as a potentially resilient software name despite volatility in AI hardware stocks. 4 Stocks With Demand So Sticky That the AI Sell-Off Barely Touched Them at All
• Neutral Sentiment: Technical coverage remains mixed: PLTR has shown a strong uptrend and recently approached its record high, but the rally has also attracted resistance and profit-taking. Upcoming earnings on November 2 could be the next major catalyst, particularly given the company’s recent revenue growth and earnings beats. Palantir stock flashes a rare technical pattern that points to more upside
• Negative Sentiment: ARK Invest, led by Cathie Wood, reportedly sold approximately $3.6 million of Palantir while purchasing about $8.1 million of CoreWeave. The trade may weigh on sentiment by signaling that at least one prominent growth investor prefers another AI infrastructure opportunity. CoreWeave or Palantir: Cathie Wood Buys $8M of One Stock, Sells $3.6M of the Other
• Negative Sentiment: Valuation is the primary risk. With a market capitalization near $467 billion and a P/E ratio above 165, one analyst downgraded PLTR from bullish to neutral, arguing that a higher fair-value estimate still does not justify the current premium. Palantir: Higher Fair Value, But Not Enough, So I Switched From Bullish To Neutral

Palantir Technologies 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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