Sierra Summit Advisors LLC Invests $11.86 Million in Palantir Technologies Inc. $PLTR

Sierra Summit Advisors LLC acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the first quarter, HoldingsChannel reports. The fund acquired 81,092 shares of the company’s stock, valued at approximately $11,862,000. Palantir Technologies accounts for approximately 1.7% of Sierra Summit Advisors LLC’s holdings, making the stock its 18th largest holding.

Other institutional investors also recently bought and sold shares of the company. Basepoint Wealth LLC purchased a new stake in Palantir Technologies during the fourth quarter worth $29,000. Morton Brown Family Wealth LLC increased its holdings in shares of Palantir Technologies by 250.0% in the 4th quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after acquiring an additional 125 shares during the period. Cornerstone Financial Management LLC bought a new position in shares of Palantir Technologies in the 4th quarter worth $31,000. United Financial Planning Group LLC bought a new position in shares of Palantir Technologies in the 3rd quarter worth $32,000. Finally, Clayton Financial Group LLC raised its position in shares of Palantir Technologies by 500.0% in the 4th quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wolfe Research raised Palantir Technologies from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. BNP Paribas Exane started coverage on shares of Palantir Technologies in a report on Tuesday, June 16th. They issued an “underperform” rating for the company. Phillip Securities increased their price target on shares of Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and lowered their price target for the company from $205.00 to $151.00 in a report on Friday, May 1st. Finally, DZ Bank began coverage on shares of Palantir Technologies in a research report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 price objective on the stock. Two equities 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 issued a Sell rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has an average rating of “Moderate Buy” and an average price target of $190.85.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $129.30 on Friday. The business’s 50-day moving average is $134.09 and its 200 day moving average is $148.44. 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 $309.97 billion, a P/E ratio of 145.28, a P/E/G ratio of 2.02 and a beta of 1.56.

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

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 319,934 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $43,523,821.36. Following the completion of the transaction, the insider directly owned 592 shares of the company’s stock, valued at $80,535.68. This trade represents a 99.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 Palantir Technologies stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $2,674,818.48. Following the completion of the sale, the insider owned 199,759 shares of the company’s stock, valued at $27,175,214.36. This trade represents a 8.96% decrease in their ownership of the stock. 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 ninety days. 9.53% of the stock is currently owned by insiders.

Key Palantir Technologies News

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?

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.