Summit Financial LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,961 shares of the company’s stock after buying an additional 5,833 shares during the quarter. Palantir Technologies makes up approximately 0.9% of Summit Financial LLC’s portfolio, making the stock its 17th largest position. Summit Financial LLC’s holdings in Palantir Technologies were worth $62,028,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. M1 Capital Management LLC boosted its holdings in shares of Palantir Technologies by 1.3% in the fourth quarter. M1 Capital Management LLC now owns 7,808 shares of the company’s stock worth $1,388,000 after buying an additional 104 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Palantir Technologies by 2.2% during the fourth quarter. Quadrant Capital Group LLC now owns 42,928 shares of the company’s stock worth $7,630,000 after purchasing an additional 906 shares during the period. CI Investments Inc. boosted its holdings in shares of Palantir Technologies by 31.6% during the fourth quarter. CI Investments Inc. now owns 492,771 shares of the company’s stock worth $87,590,000 after purchasing an additional 118,402 shares during the period. Douglass Winthrop Advisors LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $265,000. Finally, Laurel Oak Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $1,805,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.
Palantir Technologies Stock Down 2.4%
NASDAQ PLTR opened at $127.99 on Friday. The stock has a market capitalization of $306.83 billion, a PE ratio of 143.81, a price-to-earnings-growth ratio of 2.08 and a beta of 1.53. The company has a 50 day moving average price of $139.54 and a two-hundred day moving average price of $153.76. Palantir Technologies Inc. has a 12-month low of $122.68 and a 12-month high of $207.52.
Wall Street Analyst Weigh In
Several analysts recently commented on PLTR shares. Oppenheimer started coverage on shares of Palantir Technologies in a report on Thursday, April 30th. They set an “outperform” rating and a $200.00 price target for the company. UBS Group raised their price target on shares of Palantir Technologies from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Weiss Ratings cut shares of Palantir Technologies from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, April 27th. Rosenblatt Securities restated a “buy” rating and set a $225.00 price target on shares of Palantir Technologies in a report on Friday, June 5th. Finally, Argus upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.76.
Read Our Latest Stock Report on Palantir Technologies
More Palantir Technologies News
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
Insider Transactions at Palantir Technologies
In other Palantir Technologies news, insider Jeffrey Buckley sold 830 shares of Palantir Technologies stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $137.41, for a total value of $114,050.30. Following the completion of the sale, the insider directly owned 61,707 shares in the company, valued at $8,479,158.87. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shyam Sankar sold 165,514 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the completion of the sale, the insider owned 642,786 shares of the company’s stock, valued at $87,444,607.44. This trade represents a 20.48% 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 three months, insiders sold 925,789 shares of company stock valued at $126,007,032. Insiders own 9.53% of the company’s stock.
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.
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