Sierra Summit Advisors LLC Acquires Shares of 81,092 Palantir Technologies Inc. $PLTR

Sierra Summit Advisors LLC bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 81,092 shares of the company’s stock, valued at approximately $11,862,000. Palantir Technologies accounts for about 1.7% of Sierra Summit Advisors LLC’s portfolio, making the stock its 18th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new position in Palantir Technologies during the 4th quarter valued at about $29,000. United Financial Planning Group LLC bought a new stake in Palantir Technologies in the third quarter worth about $32,000. Morton Brown Family Wealth LLC lifted its stake in Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock worth $31,000 after purchasing an additional 125 shares during the last quarter. Cornerstone Financial Management LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $31,000. Finally, Clayton Financial Group LLC boosted its position in shares of Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 150 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $129.30 on Friday. The company has a market capitalization of $309.97 billion, a P/E ratio of 145.28, a P/E/G ratio of 2.02 and a beta of 1.56. The company’s 50-day simple moving average is $134.09 and its two-hundred day simple moving average is $148.44. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The company’s revenue was up 84.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 earnings per share. On average, research analysts expect that Palantir Technologies Inc. will post 1.16 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 165,514 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $22,516,524.56. Following the transaction, the insider owned 642,786 shares of the company’s stock, valued at approximately $87,444,607.44. This represents a 20.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ryan D. Taylor sold 19,662 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $2,674,818.48. Following the transaction, the insider owned 199,759 shares in the company, valued at approximately $27,175,214.36. This represents a 8.96% 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 a total of 927,270 shares of company stock worth $126,197,785 over the last three months. Corporate insiders own 9.53% of the company’s stock.

Trending Headlines about Palantir Technologies

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

• Positive Sentiment: D.A. Davidson upgraded Palantir to Buy from Neutral and raised its price target to $175, saying the company’s AI orchestration platform is becoming more valuable as enterprises want flexibility in deploying models. Palantir Stock Jumps After DA Davidson Upgrades to Buy
• Positive Sentiment: Investors are also encouraged by Palantir’s new partnership with Nvidia to build sovereign AI solutions for U.S. government agencies, which strengthens the company’s positioning in secure, high-value AI deployments. How Palantir’s Partnership With Nvidia Ended Its Brutal Losing Streak
• Positive Sentiment: Several commentaries highlighted accelerating revenue growth, expanding profitability, and a stronger “Rule of 40,” suggesting Palantir’s fundamentals are still improving even after a sharp pullback. Palantir’s Surging Rule of 40 Highlights Excellent AI-Driven Execution
• Neutral Sentiment: CEO Alex Karp used recent interviews to argue that enterprise AI pricing models from OpenAI and Anthropic are flawed and that Palantir’s approach gives customers better control over data and intellectual property. The comments support Palantir’s long-term thesis, but they do not change near-term financial results. Palantir CEO Has a Stark Message for OpenAI and Anthropic
• Neutral Sentiment: Other articles noted that Palantir still trades at a premium valuation, so while sentiment has improved, the stock may remain volatile if investors shift back toward concerns about price versus growth. Is Palantir’s Valuation Finally Catching up to Its Growth?

Wall Street Analyst Weigh In

A number of research firms have recently commented on PLTR. Royal Bank Of Canada reaffirmed an “underperform” rating and set a $90.00 target price on shares of Palantir Technologies in a research note on Tuesday, May 5th. DZ Bank assumed coverage on Palantir Technologies in a report on Thursday, April 23rd. They set a “buy” rating and a $175.00 price objective for the company. Zacks Research upgraded Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Palantir Technologies in a research report on Friday, June 5th. Finally, UBS Group upgraded Palantir Technologies from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.85.

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.