Summit X LLC Sells 11,464 Shares of Palantir Technologies Inc. $PLTR

Summit X LLC decreased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 72.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of Palantir Technologies in the 2nd quarter worth $2,543,888,000. Nuveen LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at $520,232,000. Price T Rowe Associates Inc. MD lifted its stake in Palantir Technologies by 55.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock worth $1,126,408,000 after purchasing an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock valued at $1,281,205,000 after acquiring an additional 4,221,392 shares during the last quarter. Finally, Amundi grew its position in Palantir Technologies by 56.1% in the first quarter. Amundi now owns 10,620,301 shares of the company’s stock worth $887,857,000 after acquiring an additional 3,815,386 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.6%

Shares of NASDAQ:PLTR opened at $177.93 on Friday. The business’s 50 day moving average is $177.73 and its 200 day moving average is $154.10. Palantir Technologies Inc. has a 52-week low of $55.30 and a 52-week high of $207.52. 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 (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. Palantir Technologies’s revenue was up 62.8% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 375,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the sale, the insider directly owned 702,786 shares of the company’s stock, valued at approximately $106,261,243.20. This trade represents a 34.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction 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 trade represents a 15.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,527,750 shares of company stock valued at $234,463,896 in the last ninety days. 9.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. DA Davidson raised their price objective on Palantir Technologies from $170.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday. Citigroup lifted their price objective on Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday. Jefferies Financial Group reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday. Morgan Stanley lifted their price objective on Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Palantir Technologies in a research note on Tuesday. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $173.45.

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.