Palantir Technologies Inc. $PLTR Stock: Commonwealth Equity Services LLC Decreases Stake

Commonwealth Equity Services LLC lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,241,127 shares of the company’s stock after selling 14,322 shares during the period. Commonwealth Equity Services LLC’s holdings in Palantir Technologies were worth $232,153,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Guardian Wealth Advisors LLC NC grew its stake in Palantir Technologies by 67.5% in the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 10,627 shares of the company’s stock valued at $1,240,000 after buying an additional 4,283 shares during the last quarter. Blueprint Investment Partners LLC bought a new position in Palantir Technologies in the 3rd quarter worth $2,901,000. Counterpoint Mutual Funds LLC bought a new position in Palantir Technologies in the 3rd quarter worth $1,255,000. Independent Financial Group LLC lifted its position in Palantir Technologies by 20.8% during the 2nd quarter. Independent Financial Group LLC now owns 188,200 shares of the company’s stock worth $21,957,000 after acquiring an additional 32,427 shares during the last quarter. Finally, World Equity Group Inc. lifted its position in Palantir Technologies by 7.2% during the 2nd quarter. World Equity Group Inc. now owns 43,627 shares of the company’s stock worth $5,090,000 after acquiring an additional 2,948 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

More Palantir Technologies News

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

• Positive Sentiment: Palantir reported revenue of $2.31 billion, up about 96% year over year, and adjusted EPS of $0.44, beating analyst estimates. U.S. commercial revenue surged 148%, and the company raised its full-year outlook, underscoring strong demand for its AI software. Palantir’s third-quarter results
• Positive Sentiment: Some investors and analysts remain constructive: ARK Invest bought Palantir shares during the selloff, and several research firms have maintained Buy ratings or raised price targets. ARK Invest purchases Palantir shares
• Negative Sentiment: Strong revenue growth has not eased concerns about future deal momentum. Reports cite slower contract-growth metrics, including a sharp quarter-over-quarter slowdown in total contract value growth, prompting questions about whether new bookings can sustain the pace of sales. Contract growth and spending concerns
• Negative Sentiment: Palantir’s premium valuation leaves little room for disappointment, and investors are taking profits in high-flying AI and software shares. The selloff is also tied to election-related concerns that a Democratic-controlled Congress could curb the proposed defense budget, creating uncertainty for government-focused business. Election and sector pressures

Palantir Technologies Trading Down 9.7%

Shares of Palantir Technologies stock opened at $154.99 on Friday. The company’s fifty day simple moving average is $186.39 and its 200-day simple moving average is $153.78. The company has a market cap of $372.45 billion, a price-to-earnings ratio of 108.38, a PEG ratio of 3.60 and a beta of 1.65. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $212.94.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 2nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.18 billion. Palantir Technologies had a net margin of 50.34% and a return on equity of 30.49%. Palantir Technologies’s revenue was up 95.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. As a group, research analysts forecast that Palantir Technologies Inc. will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PLTR shares. Yorkville Ives initiated coverage on shares of Palantir Technologies in a report on Tuesday, October 6th. They set an “outperform” rating and a $250.00 price target for the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $235.00 price target on shares of Palantir Technologies in a research report on Tuesday. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $156.00 to $207.00 and gave the stock a “neutral” rating in a research note on Monday. UBS Group reissued a “buy” rating on shares of Palantir Technologies in a research report on Tuesday. Finally, Oppenheimer reissued an “outperform” rating and set a $235.00 price objective (up from $200.00) on shares of Palantir Technologies in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $214.53.

Insider Transactions at Palantir Technologies

In other news, Director Eric H. Woersching sold 1,000 shares of the business’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $205.00, for a total transaction of $205,000.00. Following the transaction, the director owned 3,465 shares in the company, valued at approximately $710,325. The trade was a 22.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,250 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $174.29, for a total transaction of $217,862.50. Following the transaction, the insider directly owned 56,921 shares of the company’s stock, valued at $9,920,761.09. This represents a 2.15% 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. Over the last quarter, insiders sold 523,716 shares of company stock worth $92,212,379. 9.53% of the stock is currently owned by insiders.

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.