Palantir Technologies Inc. $PLTR Shares Sold by Summit X LLC

Summit X LLC decreased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 72.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,362 shares of the company’s stock after selling 11,464 shares during the period. Summit X LLC’s holdings in Palantir Technologies were worth $595,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Accuvest Global Advisors grew its holdings in shares of Palantir Technologies by 0.7% during the 2nd quarter. Accuvest Global Advisors now owns 9,035 shares of the company’s stock worth $1,232,000 after purchasing an additional 63 shares during the period. Ignite Planners LLC grew its position in shares of Palantir Technologies by 0.4% during the second quarter. Ignite Planners LLC now owns 15,362 shares of the company’s stock worth $2,094,000 after buying an additional 66 shares in the last quarter. Christensen King & Associates Investment Services Inc. increased its stake in shares of Palantir Technologies by 1.3% in the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company’s stock worth $747,000 after buying an additional 72 shares during the last quarter. McGlone Suttner Wealth Management Inc. grew its holdings in Palantir Technologies by 1.0% during the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company’s stock worth $1,007,000 after acquiring an additional 73 shares in the last quarter. Finally, Boomfish Wealth Group LLC raised its holdings in shares of Palantir Technologies by 2.7% during the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company’s stock worth $379,000 after purchasing an additional 73 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PLTR. Raymond James Financial reaffirmed a “market perform” rating on shares of Palantir Technologies in a report on Tuesday. Mizuho upped their price target on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group upped their price objective on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday. Daiwa Capital Markets lifted their price target on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Loop Capital boosted their price target on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $173.45.

Insider Activity

In other news, insider David A. Glazer sold 81,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the transaction, the insider owned 431,169 shares of the company’s stock, valued at $66,602,675.43. This represents a 15.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $159.55, for a total value of $4,786,500.00. Following the transaction, the insider owned 702,786 shares in the company, valued at approximately $112,129,506.30. This trade represents a 4.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 1,527,750 shares of company stock worth $234,463,896. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $177.93 on Friday. The stock has a fifty day moving average price of $177.73 and a 200 day moving average price of $154.10. The stock has a market cap of $422.11 billion, a P/E ratio of 423.65, a price-to-earnings-growth ratio of 6.89 and a beta of 2.63. Palantir Technologies Inc. has a one year low of $55.30 and a one year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $1.18 billion during 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%.Palantir Technologies’s quarterly revenue was up 62.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

About Palantir Technologies

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.