Meridian Investment Counsel Inc. Sells 7,405 Shares of Palantir Technologies Inc. $PLTR

Meridian Investment Counsel Inc. decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 16.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 36,510 shares of the company’s stock after selling 7,405 shares during the period. Palantir Technologies makes up about 1.5% of Meridian Investment Counsel Inc.’s investment portfolio, making the stock its 8th largest position. Meridian Investment Counsel Inc.’s holdings in Palantir Technologies were worth $6,829,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. BlackRock Inc. increased its position in shares of Palantir Technologies by 0.4% in the second 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 in the last quarter. State Street Corp raised its stake in shares of Palantir Technologies by 2.8% in the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company’s stock valued at $12,190,903,000 after acquiring an additional 2,863,874 shares during the period. Invesco Ltd. raised its stake in shares of Palantir Technologies by 2.8% in the 4th quarter. Invesco Ltd. now owns 22,415,082 shares of the company’s stock valued at $3,984,281,000 after acquiring an additional 616,297 shares during the period. 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. Finally, Amundi lifted its holdings in shares of 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 acquiring an additional 1,212,653 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research reports. Jefferies Financial Group reaffirmed an “underperform” rating and set a $80.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 4th. DA Davidson raised their price objective on Palantir Technologies from $200.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, September 11th. William Blair reissued an “outperform” rating on shares of Palantir Technologies in a research report on Wednesday, August 26th. Rosenblatt Securities restated a “buy” rating and set a $225.00 price objective on shares of Palantir Technologies in a research note on Wednesday, September 23rd. Finally, Oppenheimer downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.54.

Insider Activity

In other Palantir Technologies news, Director Eric Woersching sold 1,000 shares of the business’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $205.00, for a total value of $205,000.00. Following the transaction, the director owned 3,465 shares in the company, valued at $710,325. The trade was a 22.40% 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 business’s stock in a transaction on Thursday, August 20th. The stock was 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 in the company, valued at $1,124,294,375.82. This represents 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. Insiders have sold a total of 560,390 shares of company stock worth $97,909,177 over the last three months. 9.53% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Down 3.7%

PLTR opened at $200.97 on Thursday. The firm has a market capitalization of $482.94 billion, a P/E ratio of 171.77, a P/E/G ratio of 2.87 and a beta of 1.60. The firm’s 50 day moving average is $181.44 and its 200-day moving average is $151.35. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $212.94.

Palantir Technologies (NASDAQ:PLTR) last posted its 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. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The business’s revenue for the quarter was up 92.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 earnings per share. Equities analysts expect that Palantir Technologies Inc. will post 1.31 earnings per share for the current fiscal year.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Goldman Sachs upgraded Palantir Technologies from Neutral to Buy, adding to a series of increasingly favorable analyst actions and reinforcing confidence in the company’s AI-driven growth outlook. Goldman Sachs upgrade
• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP) continues to drive strong U.S. commercial demand, with rising revenue and contract values supporting the view that enterprise AI adoption could fuel further growth. The company’s latest quarter featured 92.8% year-over-year revenue growth and earnings that exceeded estimates. AIP commercial growth
• Positive Sentiment: The Regna AI venture with Ondas could broaden Palantir’s sovereign-AI and defense opportunity. The partnership is aimed at military and mission-critical uses, including drones, surveillance systems and unmanned vehicles. Regna AI opportunity
• Neutral Sentiment: Palantir and London Mayor Sadiq Khan dropped their legal dispute over a proposed £50 million Metropolitan Police contract. Ending the litigation removes an uncertainty, although the reports do not indicate that the contract will proceed. London police contract dispute
• Negative Sentiment: Valuation concerns are weighing on the shares after a roughly 16% monthly advance. Commentators note that Palantir’s exceptional growth and profitability are already reflected in a very demanding valuation, leaving limited room for slower growth or disappointing guidance. Palantir valuation analysis
• Negative Sentiment: Investors are also positioning cautiously ahead of the company’s expected November 2 earnings report. Palantir has recorded nine consecutive earnings beats, but that streak and the recent rally have raised expectations and increased the risk of a sell-the-news reaction. Upcoming earnings expectations
• Negative Sentiment: Insider-selling reports added modest pressure to sentiment. Director Lauren Friedman Stat sold shares worth approximately $1.0 million, while another insider sold 18,000 shares for about $3.6 million; both transactions were made under pre-arranged Rule 10b5-1 plans. Palantir insider sales
• Negative Sentiment: Michael Burry’s bearish positioning in Palantir highlights broader concerns that AI enthusiasm may have pushed some technology stocks beyond reasonable cash-flow expectations. Michael Burry bearish view

About Palantir Technologies

Palantir Technologies Inc (NASDAQ: PLTR) develops software platforms that help organizations integrate, analyze and act on large and complex datasets. Its principal platforms include Gotham, which is designed primarily for government and defense applications; Foundry, which supports commercial and institutional data operations; Apollo, which helps deploy and manage software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects large language models and other AI tools with an organization’s data and workflows.

The company serves government agencies, defense and intelligence organizations, and commercial businesses in industries such as manufacturing, healthcare, energy and financial services.