Palantir Technologies Inc. $PLTR Holdings Raised by Simplicity Wealth LLC

Simplicity Wealth LLC grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 27.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 63,841 shares of the company’s stock after acquiring an additional 13,931 shares during the quarter. Simplicity Wealth LLC’s holdings in Palantir Technologies were worth $11,941,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC purchased a new stake in shares of Palantir Technologies in the first quarter valued at $1,574,111,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Palantir Technologies by 277.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock valued at $1,528,143,000 after acquiring an additional 7,678,747 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Palantir Technologies by 28.7% during the first quarter. Bank of America Corp DE now owns 18,839,779 shares of the company’s stock valued at $2,755,883,000 after acquiring an additional 4,201,852 shares during the last quarter. Janus Henderson Group PLC increased its position in Palantir Technologies by 795.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,323,141 shares of the company’s stock worth $480,247,000 after purchasing an additional 2,952,079 shares in the last quarter. Finally, State Street Corp increased 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 purchasing an additional 2,863,874 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 492,348 shares of the stock in a transaction that occurred on 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 sale, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $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 can be accessed through 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 that occurred 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 owned 58,171 shares in the company, valued at $10,170,035.93. The trade was a 3.41% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 560,390 shares of company stock worth $97,909,177. 9.53% of the stock is owned by insiders.

Key Headlines Impacting 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

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of recent research reports. Zacks Research lowered shares of Palantir Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Oppenheimer downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 4th. The Goldman Sachs Group upgraded shares of Palantir Technologies from a “neutral” rating to a “buy” rating and set a $230.00 price target for the company in a report on Thursday, October 8th. Robert W. Baird set a $250.00 price objective on shares of Palantir Technologies in a research report on Monday, October 12th. Finally, Raymond James Financial raised shares of Palantir Technologies from a “hold” rating to a “moderate buy” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $203.48.

Palantir Technologies Trading Up 0.3%

Shares of Palantir Technologies stock opened at $196.75 on Friday. The business’s fifty day moving average price is $184.76 and its 200 day moving average price is $153.78. Palantir Technologies Inc. has a twelve month low of $106.37 and a twelve month high of $212.94. The stock has a market capitalization of $472.80 billion, a P/E ratio of 168.16, a PEG ratio of 3.46 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 the consensus estimate of $0.34 by $0.07. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The firm’s revenue was up 92.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 earnings per share. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 1.31 EPS for the current year.

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.