Summit Financial Strategies Inc. Acquires Shares of 1,870 Palantir Technologies Inc. $PLTR

Key Points

• Summit Financial Strategies Inc. has acquired a new position in Palantir Technologies Inc., purchasing 1,870 shares valued at approximately $255,000 in the 2nd quarter.
• Insider Shyam Sankar sold 375,000 shares of Palantir, marking a significant decrease of 34.79% in their ownership, while total insider sales over the last ninety days amounted to $244.68 million.
• Palantir's quarterly earnings report showed an EPS of $0.16, surpassing estimates, and its revenue rose 48.0% year-over-year to reach $1 billion.

Summit Financial Strategies Inc. purchased a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,870 shares of the company's stock, valued at approximately $255,000.

Several other hedge funds also recently modified their holdings of the business. Christensen King & Associates Investment Services Inc. increased its stake in shares of Palantir Technologies by 1.3% during the 2nd quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock worth $747,000 after purchasing an additional 72 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 73 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Palantir Technologies by 3.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock worth $329,000 after purchasing an additional 80 shares during the last quarter. Oxinas Partners Wealth Management LLC increased its stake in shares of Palantir Technologies by 2.7% during the 2nd quarter. Oxinas Partners Wealth Management LLC now owns 3,010 shares of the company's stock worth $410,000 after purchasing an additional 80 shares during the last quarter. Finally, Optima Capital LLC boosted its holdings in shares of Palantir Technologies by 0.6% during the 1st quarter. Optima Capital LLC now owns 12,626 shares of the company's stock worth $1,066,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 375,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.20, for a total transaction of $56,700,000.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 191,720 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the transaction, the insider directly owned 592 shares of the company's stock, valued at $89,611.04. The trade was a 99.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,591,085 shares of company stock worth $244,676,722 in the last ninety days. Company insiders own 12.93% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup reaffirmed a "neutral" rating and set a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a report on Tuesday, August 5th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Piper Sandler set a $182.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the stock an "equal weight" rating in a report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Palantir Technologies from a "sell" rating to a "hold" rating and upped their price objective for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $140.22.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $178.86 on Tuesday. Palantir Technologies Inc. has a fifty-two week low of $36.05 and a fifty-two week high of $190.00. The firm has a fifty day moving average price of $166.70 and a two-hundred day moving average price of $134.65. The company has a market cap of $424.32 billion, a PE ratio of 596.22, a price-to-earnings-growth ratio of 9.91 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm's revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Palantir Technologies Company Profile

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.

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