Palantir Technologies Inc. $PLTR Stock: Old North State Wealth Management LLC Boosts Holdings

Old North State Wealth Management LLC increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 619.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,016 shares of the company’s stock after buying an additional 14,650 shares during the quarter. Old North State Wealth Management LLC’s holdings in Palantir Technologies were worth $3,183,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PLTR. BlackRock Inc. raised its stake in 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 acquiring an additional 757,322 shares during the last quarter. State Street Corp lifted its position in Palantir Technologies by 2.8% during the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company’s stock worth $12,190,903,000 after acquiring an additional 2,863,874 shares during the period. Bank of America Corp DE grew its stake in Palantir Technologies by 1.0% during the 2nd quarter. Bank of America Corp DE now owns 19,020,265 shares of the company’s stock valued at $2,219,094,000 after purchasing an additional 180,486 shares during the last quarter. Amundi grew its stake in Palantir Technologies by 7.4% during the 2nd quarter. Amundi now owns 17,623,053 shares of the company’s stock valued at $2,056,082,000 after purchasing an additional 1,212,653 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at about $1,574,111,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $196.19 on Friday. The company has a market capitalization of $471.46 billion, a PE ratio of 167.68, a P/E/G ratio of 3.55 and a beta of 1.60. The company has a fifty day moving average of $184.30 and a 200 day moving average of $153.47. Palantir Technologies Inc. has a 1 year low of $106.37 and a 1 year high of $212.94.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.41 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was up 92.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.16 earnings per share. Research analysts expect that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PLTR. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price objective on shares of Palantir Technologies in a report on Wednesday, September 23rd. Robert W. Baird set a $250.00 target price on Palantir Technologies in a report on Monday, October 12th. Deutsche Bank Aktiengesellschaft raised Palantir Technologies from a “hold” rating to a “buy” rating and set a $200.00 target price for the company in a report on Tuesday, August 4th. DA Davidson upped their target price on Palantir Technologies from $200.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, September 11th. Finally, 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 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $203.45.

Key Palantir Technologies News

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

• Positive Sentiment: Analyst support remains strong. Citi raised its price target to $250 from $245 while maintaining a Buy rating. Other Wall Street firms reportedly see targets ranging from $230 to $265, implying further upside if Palantir delivers solid third-quarter results. Citi raises Palantir stock price target
• Positive Sentiment: New partnerships broaden Palantir’s commercial opportunity. The company expanded its AI partnership with Stagwell to develop enterprise marketing solutions and elevated Aplos Data to its top-tier Vanguard: Elite partner network. Palantir also highlighted additional sovereign-AI deployments and a Knox Systems partnership focused on secure government-cloud environments. Stagwell and Palantir expand AI partnership
• Neutral Sentiment: Nov. 2 earnings are the key near-term catalyst. Analysts expect results and management’s outlook to determine whether Palantir can sustain its growth trajectory. The company’s prior quarter featured revenue growth of nearly 93% and an earnings beat, while technical analysts note that the shares are holding above an important support level.
• Negative Sentiment: Valuation is limiting investor tolerance for disappointment. With a market capitalization near $471 billion and a trailing P/E above 160, the stock already reflects years of exceptional execution. Concerns include Palantir’s projected revenue slowdown and Gartner’s warning about whether forward-deployed AI can scale economically. These risks likely contributed to profit-taking despite reassuring NATO about system controls and continued positive business announcements. Palantir: The business is booming, but the stock has a problem

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan Taylor sold 18,000 shares of the business’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $201.15, for a total value of $3,620,700.00. Following the completion of the transaction, the insider owned 274,667 shares of the company’s stock, valued at $55,249,267.05. The trade was a 6.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander Karp sold 492,348 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $174.79, for a total value of $86,057,506.92. Following the completion of the sale, the insider owned 6,432,258 shares in the company, valued at $1,124,294,375.82. The trade was a 7.11% 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. In the last three months, insiders have sold 560,390 shares of company stock worth $97,909,177. Insiders own 9.53% of the company’s stock.

About Palantir Technologies

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.