Providence First Trust Co Buys 4,918 Shares of Palantir Technologies Inc. $PLTR

Key Points

• Providence First Trust opened a Palantir position, buying 4,918 shares worth about $920,000 in the third quarter; institutional investors own 45.65% of the stock.
• Palantir beat quarterly estimates, reporting $2.31 billion in revenue, up 95.9% year over year, and EPS of $0.44. However, a reported slowdown in bookings has raised concerns about sustaining growth.
• Insiders sold 523,716 shares valued at about $92.2 million over the past 90 days. Shares recently traded at $160.38, while analysts’ average price target is $214.53.

Providence First Trust Co acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,918 shares of the company's stock, valued at approximately $920,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Laurel Wealth Advisors LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at about $35,000. Cranbrook Wealth Management LLC increased its stake in Palantir Technologies by 40.7% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 197 shares of the company's stock worth $37,000 after purchasing an additional 57 shares during the period. Ballast Advisors LLC purchased a new position in Palantir Technologies in the 1st quarter worth approximately $29,000. Retirement Wealth Solutions LLC lifted its position in Palantir Technologies by 51.7% in the third quarter. Retirement Wealth Solutions LLC now owns 217 shares of the company's stock valued at $41,000 after purchasing an additional 74 shares during the last quarter. Finally, Dakota Community Bank & Trust NA lifted its position in Palantir Technologies by 219.1% in the third quarter. Dakota Community Bank & Trust NA now owns 217 shares of the company's stock valued at $41,000 after purchasing an additional 149 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, Director Eric Woersching sold 1,000 shares of the stock in a transaction on Friday, October 9th. The stock was sold at an average price of $205.00, for a total value of $205,000.00. Following the completion of the transaction, the director owned 3,465 shares in the company, valued at approximately $710,325. This represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 2,055 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $174.83, for a total value of $359,275.65. Following 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 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 have sold 523,716 shares of company stock valued at $92,212,379 in the last 90 days. Corporate insiders own 9.53% of the company's stock.

Palantir Technologies Trading Up 3.5%

Palantir Technologies stock traded up $5.39 during trading hours on Friday, hitting $160.38. 24,291,037 shares of the stock traded hands, compared to its average volume of 24,029,898. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $212.94. The firm's 50-day moving average price is $185.88 and its two-hundred day moving average price is $153.74. The company has a market cap of $385.40 billion, a PE ratio of 112.15, a PEG ratio of 3.18 and a beta of 1.65.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.03. Palantir Technologies had a return on equity of 32.87% and a net margin of 50.34%. The company had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.18 billion. During the same quarter last year, the business posted $0.21 EPS. The firm's revenue for the quarter was up 95.9% compared to the same quarter last year. On average, sell-side analysts expect that Palantir Technologies Inc. will post 1.31 earnings per share for the current fiscal year.

More Palantir Technologies News

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

• Positive Sentiment: Palantir beat Q3 earnings and revenue estimates, with revenue up 95.9% year over year to $2.31 billion, and raised its 2026 outlook. U.S. commercial sales also exceeded government sales for the first time, underscoring the potential to broaden its customer base. Palantir Q3 results and outlook
• Negative Sentiment: The main concern is slowing bookings: total contract value growth reportedly decelerated sharply, including in U.S. commercial business. Investors worry this could weaken the revenue pipeline and make it harder to sustain Palantir’s rapid growth. Commercial bookings slowdown
• Negative Sentiment: Palantir is also caught in a broader sell-off in AI-related software stocks. Its premium valuation may leave little room for any slowdown or disappointment, while concerns about government and defense spending add uncertainty. Contract growth warning

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PLTR shares. Northland Securities set a $200.00 price objective on Palantir Technologies in a research note on Tuesday, August 4th. Citigroup lifted their target price on shares of Palantir Technologies from $250.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday. Benchmark reiterated a "hold" rating on shares of Palantir Technologies in a report on Tuesday, August 4th. Rosenblatt Securities reissued a "buy" rating and issued a $260.00 price target on shares of Palantir Technologies in a report on Tuesday. Finally, William Blair reissued an "outperform" rating on shares of Palantir Technologies in a report on Wednesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $214.53.

Palantir Technologies Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security.

The company's platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.

Founded in 2003, Palantir initially focused on software for government and intelligence work and later expanded its commercial business.

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