Palantir Technologies Inc. $PLTR Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,851 shares of the company’s stock after selling 2,846 shares during the quarter. Sterling Capital Management LLC’s holdings in Palantir Technologies were worth $13,253,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PLTR. Ballast Advisors LLC bought a new stake in Palantir Technologies during the 1st quarter valued at $29,000. Whipplewood Advisors LLC bought a new position in shares of Palantir Technologies in the first quarter worth $32,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Palantir Technologies in the second quarter valued at $35,000. Retirement Wealth Solutions LLC grew its position in shares of 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 in the last quarter. Finally, Dakota Community Bank & Trust NA raised its stake in shares of Palantir Technologies by 219.1% during the 3rd 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 period. 45.65% of the stock is owned by institutional investors.

Key Stories 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

Palantir Technologies Stock Up 0.3%

NASDAQ:PLTR traded up $0.56 during trading hours on Friday, hitting $196.75. 17,611,821 shares of the company’s stock traded hands, compared to its average volume of 22,197,718. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $212.94. The business’s fifty day simple moving average is $184.76 and its two-hundred day simple moving average is $153.78. The firm has a market cap of $472.80 billion, a P/E ratio of 168.16, a P/E/G ratio of 3.45 and a beta of 1.60.

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

Analyst Ratings Changes

PLTR has been the topic of a number of recent research reports. Robert W. Baird set a $250.00 price objective on Palantir Technologies in a report on Monday, October 12th. Roth Capital assumed coverage on Palantir Technologies in a research report on Tuesday, August 4th. They set a “buy” rating on the stock. Wolfe Research initiated coverage on shares of Palantir Technologies in a report on Tuesday, August 4th. They issued a “buy” rating on the stock. Benchmark restated a “hold” rating on shares of Palantir Technologies in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group restated an “underperform” rating and issued a $80.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $203.48.

Insider Activity at Palantir Technologies

In related news, insider Alexander C. Karp sold 492,348 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $174.79, for a total value of $86,057,506.92. Following the sale, the insider directly owned 6,432,258 shares of the company’s stock, valued at $1,124,294,375.82. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Jeffrey Buckley sold 2,055 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $174.83, for a total transaction of $359,275.65. Following the sale, the insider owned 58,171 shares of the company’s stock, valued at approximately $10,170,035.93. The trade was a 3.41% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 560,390 shares of company stock valued at $97,909,177 in the last ninety days. Insiders own 9.53% of the company’s stock.

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.