Analysts Raise Palantir Targets to $205–$215 After Q3 Beat, Insiders Sell Shares
Palantir’s Q3 revenue rose 62.8% YoY to $1.18 billion with $0.21 EPS beating forecasts by $0.04, prompting Morgan Stanley and DA Davidson to lift price targets to $205 and $215. Insiders offloaded over 1 million shares worth $167 million in 90 days while Harel Insurance trimmed its stake by 19.9% to 28,490 shares ($5.19 million).
1. Harel Insurance Cuts Stake in Palantir
Harel Insurance Investments & Financial Services Ltd. reduced its holdings in Palantir Technologies by 19.9% in the third quarter, selling 7,076 shares and ending the period with 28,490 shares. According to its latest SEC filing, the remaining stake was valued at approximately $5.19 million. This sizable reduction marks one of the more significant single-investor moves in Palantir during the reporting period and underscores a reassessment of exposure to the company’s growth trajectory.
2. Shifts Among Institutional Investors
Several other institutions also adjusted their Palantir positions in the same quarter. Decker Retirement Planning boosted its stake by 778.7%, adding 54,347 shares to reach 61,326 shares valued at about $11.19 million. Vanguard Group increased its holding by 3.6%, acquiring 7.19 million additional shares for a total position exceeding 205 million shares. Truist Financial added 21,809 shares, a 4.2% rise, bringing its total to 537,000 shares worth over $73 million. Meanwhile, Prentice Wealth Management initiated a new position valued near $550,000, and Watershed Private Wealth grew its stake by 75.3%, purchasing 3,350 shares to hold 7,798 shares valued at $1.42 million. Institutional investors now account for 45.65% of total shares outstanding.
3. Insider Sales Accelerate
Corporate insiders have been net sellers in recent weeks. David A. Glazer sold 15,557 shares for approximately $2.55 million, reducing his ownership by 3.61% to 415,612 shares. Ryan D. Taylor disposed of 36,048 shares for around $5.85 million, cutting his stake by 12.54% to 251,409 shares. Over the past 90 days, insiders have sold a total of 1,023,444 shares valued at $167.4 million, leaving insiders with 9.23% of the company’s equity. These transactions may signal modified expectations at senior levels.
4. Recent Financial Performance and Growth Metrics
Palantir reported third-quarter revenue of $1.18 billion, up 62.8% year-over-year, with adjusted earnings per share of $0.21, beating consensus estimates by $0.04. The company’s net margin stood at 28.11% and return on equity at 15.48%. Analysts project full-year EPS of $0.31 and anticipate continued double-digit revenue growth driven by government and commercial contract expansions. With a market capitalization of $407 billion and a price-to-earnings-growth ratio of 4.30, Palantir remains one of the highest-valued enterprise-software firms, raising questions about the sustainability of its premium multiple.