Palantir Technologies Inc. $PLTR Shares Acquired by Inspire Investing LLC

Inspire Investing LLC lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 112,169 shares of the company’s stock after purchasing an additional 4,345 shares during the quarter. Palantir Technologies comprises approximately 0.9% of Inspire Investing LLC’s holdings, making the stock its 11th largest holding. Inspire Investing LLC’s holdings in Palantir Technologies were worth $20,981,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. lifted its position in Palantir Technologies by 0.4% during the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company’s stock valued at $22,146,030,000 after buying an additional 757,322 shares in the last quarter. State Street Corp increased its position in shares of Palantir Technologies by 2.8% in the second 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 in the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 acquiring an additional 180,486 shares in the last quarter. Amundi boosted its position in Palantir Technologies by 7.4% during the 2nd quarter. Amundi now owns 17,623,053 shares of the company’s stock worth $2,056,082,000 after purchasing an additional 1,212,653 shares during the period. Finally, Jennison Associates LLC purchased a new stake in Palantir Technologies during the 1st quarter worth $1,574,111,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 18,000 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $201.15, for a total transaction of $3,620,700.00. Following the sale, the insider owned 274,667 shares in the company, valued at $55,249,267.05. This represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Friedman Stat sold 5,026 shares of Palantir Technologies stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $199.00, for a total value of $1,000,174.00. Following the completion of the transaction, the director owned 46,402 shares of the company’s stock, valued at approximately $9,233,998. The trade was a 9.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 560,390 shares of company stock valued at $97,909,177 over the last quarter. Insiders own 9.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Zacks Research lowered Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. William Blair reiterated an “outperform” rating on shares of Palantir Technologies in a report on Wednesday, August 26th. Benchmark reissued a “hold” rating on shares of Palantir Technologies in a research report on Tuesday, August 4th. Wolfe Research began coverage on Palantir Technologies in a report on Tuesday, August 4th. They issued a “buy” rating for the company. Finally, Royal Bank Of Canada restated an “underperform” rating and issued a $90.00 price target on shares of Palantir Technologies in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.48.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $196.75 on Friday. The firm has a 50-day moving average of $184.76 and a two-hundred day moving average of $153.78. The stock has a market cap of $472.80 billion, a P/E ratio of 168.16, a PEG ratio of 3.45 and a beta of 1.60. 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, August 3rd. The company reported $0.41 earnings per share (EPS) 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 previous year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 92.8% compared to the same quarter last year. As a group, equities analysts expect that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.

Trending Headlines about 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 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.