Palantir Technologies Inc. $PLTR Stock: Wedbush Securities Inc. Lowers Stake

Wedbush Securities Inc. decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.0% during the third quarter, Holdings Channel reports. The firm owned 160,135 shares of the company’s stock after selling 26,101 shares during the quarter. Palantir Technologies comprises about 0.7% of Wedbush Securities Inc.’s holdings, making the stock its 17th biggest position. Wedbush Securities Inc.’s holdings in Palantir Technologies were worth $29,953,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ballast Advisors LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at $29,000. Whipplewood Advisors LLC bought a new position in shares of Palantir Technologies during the 1st quarter valued at $32,000. C M Bidwell & Associates Ltd. bought a new position in shares of Palantir Technologies during the 2nd quarter valued at $35,000. Retirement Wealth Solutions LLC boosted its stake in shares of Palantir Technologies by 51.7% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 217 shares of the company’s stock worth $41,000 after buying an additional 74 shares during the last quarter. Finally, Dakota Community Bank & Trust NA boosted its stake in shares of Palantir Technologies by 219.1% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 217 shares of the company’s stock worth $41,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 492,348 shares of the stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, insider Jeffrey Buckley sold 2,055 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $174.83, for a total transaction of $359,275.65. Following the completion of the transaction, the insider directly owned 58,171 shares of the company’s stock, valued at approximately $10,170,035.93. This trade represents a 3.41% decrease in their ownership of the stock. 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 560,390 shares of company stock valued at $97,909,177. Insiders own 9.53% of the company’s stock.

Palantir Technologies Stock Up 0.3%

NASDAQ:PLTR traded up $0.56 during mid-day trading on Friday, hitting $196.75. 17,611,821 shares of the company traded hands, compared to its average volume of 22,197,718. The stock’s fifty day moving average price is $184.76 and its 200-day moving average price is $153.78. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $212.94. The firm has a market cap of $472.80 billion, a price-to-earnings ratio of 168.16, a price-to-earnings-growth ratio of 3.45 and a beta of 1.60.

Palantir Technologies (NASDAQ:PLTR) last issued 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 during the quarter, compared to analysts’ expectations of $1.81 billion. During the same quarter in the prior year, the business posted $0.16 earnings per share. The business’s quarterly revenue was up 92.8% on a year-over-year basis. Equities analysts predict that Palantir Technologies Inc. will post 1.31 EPS for the current year.

Analysts Set New Price Targets

PLTR has been the subject of several research analyst reports. Roth Capital began coverage on Palantir Technologies in a report on Tuesday, August 4th. They issued a “buy” rating for the company. Yorkville Ives assumed coverage on Palantir Technologies in a research report on Tuesday, October 6th. They issued an “outperform” rating and a $250.00 target price on the stock. Barclays assumed coverage on Palantir Technologies in a research note on Friday, October 9th. They set an “overweight” rating and a $265.00 price target for the company. Northland Securities set a $200.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 4th. Finally, Zacks Research lowered shares of Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $203.48.

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 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.