Summit Global Investments Takes $247,000 Position in Palantir Technologies Inc. $PLTR

Summit Global Investments acquired a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,810 shares of the company’s stock, valued at approximately $247,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock worth $28,043,432,000 after acquiring an additional 7,194,216 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Palantir Technologies by 4.2% in the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock valued at $73,204,000 after purchasing an additional 21,809 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Palantir Technologies by 1.3% during the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock worth $127,923,000 after purchasing an additional 12,300 shares during the last quarter. Presilium Private Wealth LLC acquired a new position in shares of Palantir Technologies during the second quarter worth $204,000. Finally, New Century Financial Group LLC purchased a new position in Palantir Technologies in the second quarter valued at $228,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 19,004 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the completion of the sale, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $100,435,312.50. This trade represents a 2.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Glazer sold 1,973 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $156.25, for a total value of $308,281.25. Following the sale, the insider owned 413,639 shares of the company’s stock, valued at $64,631,093.75. This trade represents a 0.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,149,695 shares of company stock worth $186,821,453 over the last quarter. 9.23% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on PLTR shares. Citigroup lifted their price target on Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. Daiwa Capital Markets upped their price target on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. HSBC raised their price objective on shares of Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. Finally, Morgan Stanley upped their target price on shares of Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $172.28.

Palantir Technologies Price Performance

PLTR stock opened at $165.77 on Thursday. The company has a market cap of $395.10 billion, a price-to-earnings ratio of 394.70, a price-to-earnings-growth ratio of 6.34 and a beta of 2.63. The company has a fifty day moving average price of $179.98 and a 200 day moving average price of $159.20. Palantir Technologies Inc. has a 12 month low of $63.40 and a 12 month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the business posted $0.10 earnings per share. Palantir Technologies’s quarterly revenue was up 62.8% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.