New York, March 3, 2026, 07:31 EST — Premarket
- Palantir shares head into the open following a sharp rally in the previous session.
- Peter Thiel, the company’s co-founder, has filed to unload as many as 2 million shares—roughly $280 million worth.
- Middle East headlines remain in focus for traders, with fresh insider trade disclosures drawing attention. A newly filed lawsuit now hangs over the market as a legal risk.
Palantir Technologies Inc (PLTR.O) last traded at $145.17 before the bell Tuesday, coming off a 5.8% surge the day before. According to a filing, co-founder Peter Thiel is looking to offload as many as 2 million Class A shares—worth about $280 million, based on the notice. The Form 144 filing, required for certain planned sales under Rule 144, referenced a Rule 10b5-1 trading plan put in place on Nov. 14, 2025.
Timing’s a factor here — Palantir often moves as a proxy for government and defense spending, rather than your typical enterprise software stock. With volatility running high, insider sales, no matter how minor next to Palantir’s total float, can easily spook the tape.
Wall Street wrapped up Monday with only slight changes, tech and defense names doing enough to counter losses elsewhere after air strikes on Iran over the weekend rattled investors. Oil pressed higher again Tuesday as the conflict expanded, pushing traders to stay alert for fresh geopolitical shocks and inflation worries.
Rosenblatt bumped its Palantir price target up to $200 from $150—yet another bullish call in a name that’s been sensitive to how investors are positioned.
Guardian Premier Solutions, a defense contractor out of San Antonio, has filed suit against Palantir, accusing the company of fraud, breach of contract, and deceptive trade practices in connection with a partnership program, according to the Express-News. The lawsuit is seeking under $1 million in damages. Palantir had not filed a response as of the newspaper’s report.
Palantir’s bread and butter is selling data-analysis platforms to governments as well as private firms, but it’s the public sector that’s been fueling its expansion. Back in February, U.S. government revenue soared 66% in the fourth quarter, landing at $570 million. The company also laid out a revenue forecast for 2026 between $7.18 billion and $7.20 billion. Still, “Valuation question marks won’t disappear,” eToro analyst Zavier Wong cautioned in a note. Reuters
Still, that trade could flip quickly. A dip in the conflict risk premium, a general risk-off wave, or new signs of insider selling—any of those might send momentum buyers packing.
On Tuesday, traders are set to track whether Palantir keeps that defense-driven support right from the open, and if any fresh SEC filings confirm real selling after Thiel’s notice pointed to March 2 as the planned date. Eyes will also be on any word from the company about the Guardian litigation.
