Summit Global Investments Buys 6,310 Shares of Palantir Technologies Inc. $PLTR

Summit Global Investments increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 19.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,665 shares of the company’s stock after buying an additional 6,310 shares during the period. Summit Global Investments’ holdings in Palantir Technologies were worth $4,511,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PLTR. Norges Bank purchased a new position in Palantir Technologies in the fourth quarter valued at about $5,149,641,000. Jennison Associates LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $1,574,111,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Palantir Technologies by 277.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock worth $1,528,143,000 after purchasing an additional 7,678,747 shares during the last quarter. State Street Corp raised its holdings in shares of Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock worth $18,471,648,000 after purchasing an additional 6,777,771 shares during the period. Finally, Cardano Risk Management B.V. raised its holdings in shares of Palantir Technologies by 917.4% in the 4th quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company’s stock worth $1,170,596,000 after purchasing an additional 5,938,343 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 397,744 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the sale, the insider directly owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. The trade was a 5.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Andrew Cohen sold 319,934 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total value of $43,523,821.36. Following the sale, the insider directly owned 592 shares in the company, valued at $80,535.68. This trade represents a 99.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,150,302 shares of company stock valued at $156,197,565 in the last 90 days. Corporate insiders own 9.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PLTR shares. HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the company from $205.00 to $151.00 in a report on Friday, May 1st. DA Davidson boosted their target price on Palantir Technologies from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Wolfe Research began coverage on Palantir Technologies in a research report on Tuesday, August 4th. They set a “buy” rating on the stock. Mizuho increased their price target on Palantir Technologies from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group reissued an “underperform” rating and issued a $80.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.19.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $174.04 on Monday. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $207.52. The firm has a market capitalization of $418.23 billion, a price-to-earnings ratio of 148.75, a P/E/G ratio of 2.48 and a beta of 1.59. The firm has a 50 day simple moving average of $134.60 and a 200 day simple moving average of $139.96.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, August 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Palantir Technologies had a net margin of 49.01% and a return on equity of 30.57%. The business’s revenue for the quarter was up 92.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.26 EPS for the current year.

More Palantir Technologies News

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

• Positive Sentiment: Palantir’s Artificial Intelligence Platform (AIP), boot camps, and forward-deployed engineers are helping convert customers and expand commercial adoption. Analysts point to accelerating revenue growth, improving net dollar retention, and a fiscal-year Rule of 138.6% outlook as evidence that the company remains a leading AI growth story. Palantir: Winning AI Race With AIP and Forward Deployed Engineer Approach
• Positive Sentiment: Commentators continue to highlight Palantir’s strong second-quarter performance, including revenue growth of roughly 93%, an earnings beat, and higher guidance. The results have fueled bullish forecasts and reinforced the view that AIP could materially broaden Palantir’s enterprise customer base. Palantir’s $442 Billion Valuation Faces a Test
• Positive Sentiment: Investor Chamath Palihapitiya identified Palantir as a potential beneficiary of a shift toward model-agnostic AI, since customers may increasingly want software that works across multiple large-language-model providers. Chamath Palihapitiya Sees Palantir As a Potential Winner
• Neutral Sentiment: Palantir is being featured among major beneficiaries of rising demand for AI analytics and infrastructure, alongside Nvidia and Dell. The broader AI trade may support sentiment, although the article does not provide a new company-specific catalyst. Top Big Data Stocks Tapping the Surging Demand for AI Analytics
• Negative Sentiment: Valuation remains the key risk. With Palantir valued at more than $400 billion and trading at a very high earnings multiple, investors need continued exceptional growth for the stock to justify its price. That creates vulnerability to profit-taking even after strong results. Palantir’s $442 Billion Valuation Faces a Test
• Negative Sentiment: ARK Invest sold approximately $7.9 million of Palantir shares while reallocating funds to Cerebras Systems. The sale is modest relative to Palantir’s market value but may add to near-term selling pressure and raise questions about whether some investors are locking in gains. Cathie Wood Sells Palantir Stock After Blowout Earnings

About Palantir Technologies

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.