Royal Palms Capital LLC Purchases 2,650 Shares of Palantir Technologies Inc. $PLTR

Royal Palms Capital LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 49.1% in the third quarter, Holdings Channel.com reports. The fund owned 8,050 shares of the company’s stock after buying an additional 2,650 shares during the period. Royal Palms Capital LLC’s holdings in Palantir Technologies were worth $1,506,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ballast Advisors LLC bought a new position in Palantir Technologies during the first quarter worth $29,000. Retirement Wealth Solutions LLC increased its stake in Palantir Technologies by 51.7% during the third quarter. Retirement Wealth Solutions LLC now owns 217 shares of the company’s stock valued at $41,000 after purchasing an additional 74 shares during the last quarter. Dakota Community Bank & Trust NA increased its stake in Palantir Technologies by 219.1% during the third quarter. Dakota Community Bank & Trust NA now owns 217 shares of the company’s stock valued at $41,000 after purchasing an additional 149 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Palantir Technologies during the first quarter valued at $32,000. Finally, PFS Partners LLC raised its holdings in shares of Palantir Technologies by 28.9% during the third quarter. PFS Partners LLC now owns 250 shares of the company’s stock worth $47,000 after purchasing an additional 56 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $196.75 on Monday. The firm has a market capitalization of $472.80 billion, a P/E ratio of 168.16, a P/E/G ratio of 3.46 and a beta of 1.60. The business has a 50 day simple moving average of $184.76 and a 200 day simple moving average of $153.82. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $212.94.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 92.8% on a year-over-year basis. Research analysts anticipate that Palantir Technologies Inc. will post 1.31 EPS for the current fiscal 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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PLTR shares. William Blair restated an “outperform” rating on shares of Palantir Technologies in a research report on Wednesday, August 26th. Yorkville Ives initiated coverage on shares of Palantir Technologies in a research report on Tuesday, October 6th. They set an “outperform” rating and a $250.00 price objective for the company. Northland Securities set a $200.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, Zacks Research cut shares of Palantir Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned 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 stock presently has an average rating of “Moderate Buy” and an average target price of $203.48.

Insider Activity at Palantir Technologies

In other news, Director Lauren Friedman Stat sold 5,026 shares of the business’s 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 transaction, the director owned 46,402 shares of the company’s stock, valued at approximately $9,233,998. The trade was a 9.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 company’s stock in a transaction dated 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 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 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. In the last quarter, insiders have sold 560,390 shares of company stock valued at $97,909,177. Company insiders own 9.53% of the company’s stock.

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.