Palantir Technologies Inc. $PLTR Holdings Lifted by Summit Financial LLC

Summit Financial LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 348,961 shares of the company’s stock after purchasing an additional 5,833 shares during the period. Palantir Technologies makes up approximately 0.9% of Summit Financial LLC’s holdings, making the stock its 17th biggest position. Summit Financial LLC’s holdings in Palantir Technologies were worth $62,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Revolve Wealth Partners LLC bought a new position in Palantir Technologies in the 4th quarter worth about $450,000. Bison Wealth LLC increased its stake in Palantir Technologies by 37.4% during the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock valued at $1,296,000 after buying an additional 4,667 shares during the period. Capstone Wealth Management Group LLC increased its stake in Palantir Technologies by 38.0% during the 1st quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock valued at $1,447,000 after buying an additional 4,722 shares during the period. Schnieders Capital Management LLC. increased its stake in Palantir Technologies by 36.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 6,294 shares of the company’s stock valued at $858,000 after buying an additional 1,694 shares during the period. Finally, Vivaldi Capital Management LP acquired a new position in Palantir Technologies during the 2nd quarter valued at about $315,000. Institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $54,109,093.76. Following the completion of the transaction, the insider directly owned 6,432,258 shares in the company, valued at $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David A. Glazer sold 17,128 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,330,093.12. Following the completion of the transaction, the insider owned 375,242 shares of the company’s stock, valued at approximately $51,047,921.68. The trade was a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 925,789 shares of company stock valued at $126,007,032. Company insiders own 9.53% of the company’s stock.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: Palantir expanded its commercial AI footprint with new multiyear enterprise deals, showing continued customer demand and growth beyond government contracts. Palantir Expands Commercial AI Footprint With New Multiyear Enterprise Deals
• Positive Sentiment: Zacks said Palantir’s operating leverage is driving margins and operating income higher, suggesting the company is becoming more profitable as revenue scales. PLTR’s Operating Leverage Pushes Profitability to New Levels
• Neutral Sentiment: More than 56% of non-insider shareholders backed a proposal for a human rights report, but the measure is not expected to move forward, so the market impact should be limited. Most Palantir Shareholders Vote for Human Rights Probe. Why It Won’t Happen.
• Negative Sentiment: Traders are watching whether PLTR can hold support around $126.50 after a failed breakout, signaling near-term technical risk and potential for more downside if that level breaks. Palantir Tests Key Support After Breakout Fails
• Negative Sentiment: Ongoing commentary around CEO Alex Karp’s warnings on AI industry dynamics and wealth inequality may add to investor caution, especially amid broader concerns about valuation and sentiment in high-growth tech. Palantir CEO Warns AI Could Supercharge Wealth Inequality

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Oppenheimer assumed coverage on shares of Palantir Technologies in a research note on Thursday, April 30th. They set an “outperform” rating and a $200.00 target price on the stock. Weiss Ratings cut shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Argus raised shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research note on Wednesday, May 6th. DZ Bank assumed coverage on shares of Palantir Technologies in a research note on Thursday, April 23rd. They set a “buy” rating and a $175.00 target price on the stock. Finally, Zacks Research raised shares of Palantir Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.

Palantir Technologies Price Performance

Shares of PLTR opened at $127.99 on Friday. The firm’s 50 day moving average is $139.54 and its 200-day moving average is $153.76. The stock has a market capitalization of $306.83 billion, a P/E ratio of 143.81, a P/E/G ratio of 2.08 and a beta of 1.53. Palantir Technologies Inc. has a 12-month low of $122.68 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business’s revenue was up 84.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 1.18 EPS for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.