Palantir Technologies Inc. $PLTR Holdings Cut by SVB Wealth LLC

SVB Wealth LLC cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,900 shares of the company’s stock after selling 4,445 shares during the period. SVB Wealth LLC’s holdings in Palantir Technologies were worth $5,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Palantir Technologies by 0.4% during the 2nd quarter. BlackRock Inc. now owns 189,817,693 shares of the company’s stock worth $22,146,030,000 after buying an additional 757,322 shares during the last quarter. State Street Corp raised its position in shares of Palantir Technologies by 2.8% during the 2nd quarter. State Street Corp now owns 104,490,468 shares of the company’s stock valued at $12,190,903,000 after buying an additional 2,863,874 shares during the period. Bank of America Corp DE raised its position in shares of Palantir Technologies by 28.7% during the 1st quarter. Bank of America Corp DE now owns 18,839,779 shares of the company’s stock valued at $2,755,883,000 after buying an additional 4,201,852 shares during the period. Amundi lifted its holdings in Palantir Technologies by 2.5% in the first quarter. Amundi now owns 16,410,400 shares of the company’s stock valued at $2,400,513,000 after acquiring an additional 398,093 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in Palantir Technologies in the first quarter valued at approximately $1,574,111,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

More Palantir Technologies News

Investors following PLTR have been watching these news items:

• Positive Sentiment: Palantir reported quarterly revenue of $2.31 billion, up 95.9% year over year, and EPS of $0.44, beating estimates for both. Some analysts and commentators argue that the company’s enterprise AI growth story remains intact; one article also highlights 165% customer retention as a sign of expansion potential. Article: Palantir: 165% Retention Signals The Next Enterprise AI Boom
• Negative Sentiment: Investors are focused on weaker bookings indicators despite the revenue beat: total contract value reportedly grew just 6% year over year, versus 49% in the prior quarter, while U.S. commercial contract value fell sequentially. These figures raise questions about whether sales momentum can sustain recent growth. Article: Palantir (PLTR) Stock Slips Despite Strong AI Revenue
• Negative Sentiment: Valuation is another headwind: several reports argue that even rapid growth may not justify the stock’s high price, leaving little room for disappointment. Rising dilution is also cited as a concern. Article: Palantir Grew Revenue 96%. The Stock Fell 5%.

Insider Activity

In other Palantir Technologies news, insider Alexander Karp sold 492,348 shares of the firm’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 approximately $1,124,294,375.82. This trade represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 1,250 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $174.29, for a total value of $217,862.50. Following the transaction, the insider owned 56,921 shares in the company, valued at $9,920,761.09. This represents a 2.15% 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 sold 523,716 shares of company stock worth $92,212,379 over the last three months. Company insiders own 9.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PLTR. Cantor Fitzgerald increased their price objective on Palantir Technologies from $156.00 to $207.00 and gave the stock a “neutral” rating in a research report on Monday, November 2nd. Morgan Stanley lifted their target price on Palantir Technologies from $205.00 to $233.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Truist Financial reaffirmed a “buy” rating and issued a $250.00 price target (up from $223.00) on shares of Palantir Technologies in a research note on Tuesday, November 3rd. Citigroup increased their price target on Palantir Technologies from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. Finally, UBS Group reiterated a “buy” rating on shares of Palantir Technologies in a report on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Palantir Technologies has an average rating of “Moderate Buy” and an average target price of $216.76.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $171.58 on Friday. The stock has a market capitalization of $412.32 billion, a price-to-earnings ratio of 119.99, a price-to-earnings-growth ratio of 3.48 and a beta of 1.65. The business has a 50-day moving average of $185.08 and a 200 day moving average of $153.81. 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 quarterly earnings results on Monday, November 2nd. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. Palantir Technologies had a return on equity of 30.49% and a net margin of 50.34%. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the business earned $0.21 EPS. Palantir Technologies’s revenue was up 95.9% on a year-over-year basis. Equities research analysts anticipate that Palantir Technologies Inc. will post 1.36 earnings per share for the current year.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.