Palantir Technologies Inc. $PLTR Stock: Sterling Capital Management LLC Lowers Position

Sterling Capital Management LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 3.9% during the third quarter, HoldingsChannel reports. The firm owned 70,851 shares of the company’s stock after selling 2,846 shares during the period. Sterling Capital Management LLC’s holdings in Palantir Technologies were worth $13,253,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Palantir Technologies by 0.4% during the 2nd quarter. BlackRock Inc. now owns 189,817,693 shares of the company’s stock valued at $22,146,030,000 after purchasing an additional 757,322 shares during the last quarter. State Street Corp lifted its position in Palantir Technologies by 2.8% in the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company’s stock worth $12,190,903,000 after buying an additional 2,863,874 shares during the last quarter. Bank of America Corp DE lifted its position in Palantir Technologies by 1.0% in the 2nd quarter. Bank of America Corp DE now owns 19,020,265 shares of the company’s stock worth $2,219,094,000 after buying an additional 180,486 shares during the last quarter. Amundi lifted its position in Palantir Technologies by 7.4% in the 2nd quarter. Amundi now owns 17,623,053 shares of the company’s stock worth $2,056,082,000 after buying an additional 1,212,653 shares during the last quarter. Finally, Jennison Associates LLC purchased a new stake in Palantir Technologies in the first quarter worth approximately $1,574,111,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

PLTR traded up $0.56 on Friday, hitting $196.75. 17,611,821 shares of the company were exchanged, compared to its average volume of 22,197,718. The firm 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 12 month low of $106.37 and a 12 month high of $212.94. The stock has a market capitalization of $472.80 billion, a PE ratio of 168.16, a price-to-earnings-growth ratio of 3.45 and a beta of 1.60.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.41 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 analysts’ expectations of $1.81 billion. During the same period in the previous year, the firm earned $0.16 EPS. The business’s quarterly revenue was up 92.8% on a year-over-year basis. On average, equities analysts expect that Palantir Technologies Inc. will post 1.31 earnings per share for the current year.

Palantir Technologies News Roundup

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Needham & Company LLC set a $215.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 11th. The Goldman Sachs Group upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and set a $230.00 price objective for the company in a report on Thursday, October 8th. Weiss Ratings raised shares of Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. DA Davidson upped their price objective on shares of Palantir Technologies from $200.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, September 11th. Finally, Wolfe Research initiated coverage on shares of Palantir Technologies in a report on Tuesday, August 4th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.48.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Friedman Stat sold 5,026 shares of the stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $199.00, for a total transaction of $1,000,174.00. Following the completion of the sale, the director owned 46,402 shares of the company’s stock, valued at $9,233,998. This represents a 9.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shyam Sankar sold 35,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $155.70, for a total transaction of $5,449,500.00. Following the completion of the sale, the insider directly owned 642,786 shares in the company, valued at approximately $100,081,780.20. This trade represents a 5.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 560,390 shares of company stock valued at $97,909,177. 9.53% of the stock is currently owned by insiders.

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.