Palantir Technologies Inc. $PLTR Stock Sold by Root Financial Partners LLC

Root Financial Partners LLC reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 36.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,887 shares of the company's stock after selling 5,612 shares during the quarter. Root Financial Partners LLC's holdings in Palantir Technologies were worth $1,849,000 as of its most recent SEC filing.

• Palantir's Next Big Test Isn't a Partnership—It's the Numbers

Other large investors have also bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Palantir Technologies by 0.4% during the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company's stock valued at $22,146,030,000 after purchasing an additional 757,322 shares in the last quarter. State Street Corp boosted its holdings in Palantir Technologies by 2.8% during the second 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 during the last quarter. Bank of America Corp DE grew its position in Palantir Technologies by 1.0% in the 2nd quarter. Bank of America Corp DE now owns 19,020,265 shares of the company's stock worth $2,219,094,000 after purchasing an additional 180,486 shares in the last quarter. Amundi grew its position in Palantir Technologies by 7.4% in the 2nd quarter. Amundi now owns 17,623,053 shares of the company's stock worth $2,056,082,000 after purchasing an additional 1,212,653 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Palantir Technologies in the 1st quarter worth about $1,574,111,000. 45.65% of the stock is currently owned by institutional investors.

Key Headlines Impacting Palantir Technologies

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

• Positive Sentiment: Analyst support remains strong. Citi raised its price target to $250 from $245 while maintaining a Buy rating. Other Wall Street firms reportedly see targets ranging from $230 to $265, implying further upside if Palantir delivers solid third-quarter results. Citi raises Palantir stock price target
• Positive Sentiment: New partnerships broaden Palantir’s commercial opportunity. The company expanded its AI partnership with Stagwell to develop enterprise marketing solutions and elevated Aplos Data to its top-tier Vanguard: Elite partner network. Palantir also highlighted additional sovereign-AI deployments and a Knox Systems partnership focused on secure government-cloud environments. Stagwell and Palantir expand AI partnership
• Neutral Sentiment: Nov. 2 earnings are the key near-term catalyst. Analysts expect results and management’s outlook to determine whether Palantir can sustain its growth trajectory. The company’s prior quarter featured revenue growth of nearly 93% and an earnings beat, while technical analysts note that the shares are holding above an important support level.
• Negative Sentiment: Valuation is limiting investor tolerance for disappointment. With a market capitalization near $471 billion and a trailing P/E above 160, the stock already reflects years of exceptional execution. Concerns include Palantir’s projected revenue slowdown and Gartner’s warning about whether forward-deployed AI can scale economically. These risks likely contributed to profit-taking despite reassuring NATO about system controls and continued positive business announcements. Palantir: The business is booming, but the stock has a problem

Insider Buying and Selling

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In other Palantir Technologies news, insider Ryan D. Taylor sold 18,000 shares of the stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $201.15, for a total transaction of $3,620,700.00. Following the completion of the transaction, the insider directly owned 274,667 shares of the company's stock, valued at approximately $55,249,267.05. This represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Alexander C. Karp sold 492,348 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $174.79, for a total value of $86,057,506.92. Following the completion of the sale, the insider directly 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 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. Insiders have sold a total of 560,390 shares of company stock worth $97,909,177 in the last three months. Insiders own 9.53% of the company's stock.

Analyst Ratings Changes

PLTR has been the subject of several analyst reports. Barclays started coverage on shares of Palantir Technologies in a research note on Friday, October 9th. They issued an "overweight" rating and a $265.00 price objective for the company. Cantor Fitzgerald assumed coverage on Palantir Technologies in a report on Tuesday, August 4th. They issued an "overweight" rating for the company. Robert W. Baird set a $250.00 price target on Palantir Technologies in a research report on Monday, October 12th. The Goldman Sachs Group raised Palantir Technologies from a "neutral" rating to a "buy" rating and set a $230.00 price target for the company in a research report on Thursday, October 8th. Finally, President Capital upgraded Palantir Technologies from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $25.50 to $133.00 in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $203.45.

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Read Our Latest Analysis on Palantir Technologies

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $196.19 on Friday. Palantir Technologies Inc. has a 52-week low of $106.37 and a 52-week high of $212.94. The company has a 50-day simple moving average of $184.30 and a 200 day simple moving average of $153.47. The company has a market capitalization of $471.46 billion, a PE ratio of 167.68, a price-to-earnings-growth ratio of 3.55 and a beta of 1.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The firm 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 company's quarterly revenue was up 92.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.16 earnings per share. As a group, analysts forecast that Palantir Technologies Inc. will post 1.31 EPS for the current fiscal year.

About Palantir Technologies

(Free Report)

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.

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