Palantir Technologies Inc. $PLTR Stock Sold by Convergence Financial LLC

Convergence Financial LLC lessened its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 33.6% in the third quarter, Holdings Channel reports. The firm owned 14,509 shares of the company’s stock after selling 7,354 shares during the quarter. Convergence Financial LLC’s holdings in Palantir Technologies were worth $2,714,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Guardian Wealth Advisors LLC NC boosted its stake in Palantir Technologies by 67.5% in the second quarter. Guardian Wealth Advisors LLC NC now owns 10,627 shares of the company’s stock valued at $1,240,000 after buying an additional 4,283 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Palantir Technologies during the third quarter worth about $1,255,000. Independent Financial Group LLC raised its stake in Palantir Technologies by 20.8% during the second quarter. Independent Financial Group LLC now owns 188,200 shares of the company’s stock worth $21,957,000 after acquiring an additional 32,427 shares in the last quarter. World Equity Group Inc. raised its stake in Palantir Technologies by 7.2% during the second quarter. World Equity Group Inc. now owns 43,627 shares of the company’s stock worth $5,090,000 after acquiring an additional 2,948 shares in the last quarter. Finally, Sage Capital Advisors llc lifted its holdings in shares of Palantir Technologies by 63.5% in the second quarter. Sage Capital Advisors llc now owns 66,944 shares of the company’s stock worth $7,810,000 after acquiring an additional 25,995 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Down 1.0%

NASDAQ:PLTR opened at $196.81 on Thursday. The stock has a market cap of $472.95 billion, a P/E ratio of 168.21, a price-to-earnings-growth ratio of 3.46 and a beta of 1.60. The stock’s 50-day moving average is $186.28 and its 200-day moving average is $153.79. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $212.94.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. As a group, equities analysts forecast that Palantir Technologies Inc. will post 1.31 EPS for the current year.

Insider Activity

In other Palantir Technologies news, Director Eric Woersching sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $205.00, for a total transaction of $205,000.00. Following the sale, the director directly owned 3,465 shares of the company’s stock, valued at $710,325. The trade was a 22.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $174.29, for a total transaction of $217,862.50. Following the completion of the transaction, the insider owned 56,921 shares of the company’s stock, valued at approximately $9,920,761.09. This trade represents a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Company insiders own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PLTR. Needham & Company LLC set a $215.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 11th. Oppenheimer lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 4th. Benchmark reiterated a “hold” rating on shares of Palantir Technologies in a research report on Tuesday, August 4th. Zacks Research downgraded shares of Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, Mizuho raised their target price on shares of Palantir Technologies from $215.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Moderate Buy” and an average target price of $205.55.

Palantir Technologies News Roundup

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

• Positive Sentiment: Palantir’s strong operating momentum remains a potential catalyst. Analysts expect third-quarter earnings of approximately $0.41 per share, while recent coverage points to accelerating demand from U.S. commercial and government customers, expanding margins and additional business from existing clients. Palantir Could Crush Q3 Earnings, But 1 Risk Could Spoil the Rally
• Positive Sentiment: The company’s partner expansion could support future commercial growth. Aplos Data was elevated to Palantir’s Vanguard: Elite partner status, potentially widening deployment of Foundry and Palantir’s Artificial Intelligence Platform among U.S. businesses. Palantir Technologies Deepens U.S. Reach With New Vanguard Elite Partner
• Neutral Sentiment: Options markets imply an unusually large move of roughly 11.65% following the November 2 earnings release, highlighting elevated event risk rather than signaling a clear direction. Investors are focused on U.S. commercial customer growth, free cash flow and management’s guidance. Palantir Stock Could Swing 11.65% After Q3 Earnings
• Negative Sentiment: RBC Capital issued a fresh warning ahead of earnings, reinforcing concerns that Palantir must deliver exceptionally strong results and guidance to justify its elevated valuation. The stock trades at roughly 168 times earnings, leaving limited room for disappointment. Palantir Stock Falls After RBC Delivers Fresh Warning Ahead of Earnings
• Negative Sentiment: Additional commentary describes Palantir as a crowded, richly valued AI trade. Higher interest rates could compress high-growth technology multiples, while any slowdown in revenue growth, free cash flow or customer additions could trigger a sharper pullback. Palantir Stock Could Be 5% Above Fair Value

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.