Summit Investment Advisors Inc. Purchases 3,989 Shares of Palantir Technologies Inc. $PLTR

Summit Investment Advisors Inc. raised its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 4.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 93,341 shares of the company’s stock after acquiring an additional 3,989 shares during the period. Summit Investment Advisors Inc.’s holdings in Palantir Technologies were worth $7,878,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Truist Financial Corp grew its stake in shares of Palantir Technologies by 4.2% in the second quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock valued at $73,204,000 after acquiring an additional 21,809 shares in the last quarter. State of Michigan Retirement System boosted 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 acquiring an additional 12,300 shares in the last quarter. Presilium Private Wealth LLC bought a new position in shares of Palantir Technologies in the 2nd quarter valued at $204,000. New Century Financial Group LLC bought a new position in Palantir Technologies in the second quarter valued at about $228,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Palantir Technologies by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 11,668,082 shares of the company’s stock valued at $984,786,000 after purchasing an additional 1,135,841 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PLTR shares. Royal Bank Of Canada boosted their price objective on Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Tuesday. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research note on Tuesday. Wall Street Zen upgraded Palantir Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley lifted their price target on shares of Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research note on Tuesday. Finally, UBS Group upped their target price on Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $173.45.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $177.93 on Friday. The company has a 50-day simple moving average of $177.73 and a 200 day simple moving average of $153.68. Palantir Technologies Inc. has a 52-week low of $55.30 and a 52-week high of $207.52. The company has a market capitalization of $422.11 billion, a PE ratio of 423.65, a price-to-earnings-growth ratio of 6.78 and a beta of 2.63.

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

Insider Buying and Selling

In other news, insider David A. Glazer sold 81,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the sale, the insider directly owned 431,169 shares of the company’s stock, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the transaction, the insider directly owned 307,470 shares of the company’s stock, valued at approximately $48,687,874.50. This represents a 10.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,527,750 shares of company stock worth $234,463,896 in the last 90 days. 9.23% of the stock is currently owned by company insiders.

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.