Palantir Technologies Inc. $PLTR Shares Sold by McGuire Investment Group LLC

McGuire Investment Group LLC trimmed its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,123 shares of the company’s stock after selling 4,110 shares during the period. Palantir Technologies comprises about 3.4% of McGuire Investment Group LLC’s investment portfolio, making the stock its 8th biggest position. McGuire Investment Group LLC’s holdings in Palantir Technologies were worth $37,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Palantir Technologies by 0.4% in the 2nd 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 in the last quarter. State Street Corp grew its holdings 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 worth $12,190,903,000 after purchasing an additional 2,863,874 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Palantir Technologies by 28.7% in the first quarter. Bank of America Corp DE now owns 18,839,779 shares of the company’s stock valued at $2,755,883,000 after buying an additional 4,201,852 shares during the last quarter. Amundi increased its holdings in shares of Palantir Technologies by 2.5% in the first quarter. Amundi now owns 16,410,400 shares of the company’s stock valued at $2,400,513,000 after purchasing an additional 398,093 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in Palantir Technologies during the 1st quarter valued at about $1,574,111,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, Director Lauren Friedman Stat sold 5,026 shares of the stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $199.00, for a total value of $1,000,174.00. Following the completion of the sale, the director directly owned 46,402 shares in the company, valued at $9,233,998. This represents a 9.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 492,348 shares of Palantir Technologies stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $174.79, for a total transaction of $86,057,506.92. Following the completion of the sale, the insider owned 6,432,258 shares of the company’s stock, valued at $1,124,294,375.82. This represents a 7.11% decrease in their position. 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. In the last 90 days, insiders have sold 560,390 shares of company stock worth $97,909,177. 9.53% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on PLTR. Raymond James Financial raised Palantir Technologies from a “hold” rating to a “moderate buy” rating in a research note on Thursday, October 8th. Mizuho upped their target price on shares of Palantir Technologies from $215.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Needham & Company LLC set a $215.00 price target on Palantir Technologies in a research note on Tuesday, August 11th. Phillip Securities downgraded Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Finally, Yorkville Ives assumed coverage on shares of Palantir Technologies in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $250.00 target price for the company. One investment 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $203.48.

Palantir Technologies News Summary

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 Price Performance

Shares of Palantir Technologies stock opened at $196.75 on Friday. The business has a fifty day simple moving average of $184.76 and a two-hundred day simple moving average of $153.78. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $212.94. The company has a market capitalization of $472.80 billion, a price-to-earnings ratio of 168.16, a P/E/G ratio of 3.46 and a beta of 1.60.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The business’s revenue was up 92.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.16 earnings per share. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 1.31 earnings per share for the current fiscal year.

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.