Palantir Technologies Inc. $PLTR Stock Sold by Summit Global Investments

Summit Global Investments lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 24.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,291 shares of the company’s stock after selling 9,374 shares during the period. Summit Global Investments’ holdings in Palantir Technologies were worth $5,479,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in PLTR. Ballast Advisors LLC acquired a new position in shares of Palantir Technologies during the first quarter worth $29,000. Whipplewood Advisors LLC acquired a new stake in Palantir Technologies during the 1st quarter valued at approximately $32,000. C M Bidwell & Associates Ltd. bought a new position in shares of Palantir Technologies in the 2nd quarter worth about $35,000. Laurel Wealth Advisors LLC bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at $35,000. Finally, Cranbrook Wealth Management LLC increased its position in Palantir Technologies by 40.7% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 197 shares of the company’s stock valued at $37,000 after buying an additional 57 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Down 6.3%

NASDAQ PLTR opened at $184.11 on Friday. Palantir Technologies Inc. has a 1-year low of $106.37 and a 1-year high of $212.94. The stock has a 50-day moving average of $186.90 and a 200-day moving average of $153.90. The firm has a market cap of $442.43 billion, a PE ratio of 157.36, a price-to-earnings-growth ratio of 3.28 and a beta of 1.60.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.81 billion. Palantir Technologies had a return on equity of 30.57% and a net margin of 49.01%. The business’s quarterly revenue was up 92.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 1.29 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, insider Alexander Karp sold 492,348 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $174.79, for a total transaction of $86,057,506.92. Following the transaction, the insider owned 6,432,258 shares in the company, valued at $1,124,294,375.82. The trade was a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 35,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $155.70, for a total value of $5,449,500.00. Following the transaction, the insider directly owned 642,786 shares in the company, valued at $100,081,780.20. This trade represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 560,390 shares of company stock worth $97,909,177 over the last 90 days. 9.53% of the stock is owned by insiders.

Key Stories Impacting Palantir Technologies

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

• Positive Sentiment: AI demand and earnings expectations remain strong. Analysts expect third-quarter revenue to increase about 84%, supported by demand for Palantir’s Artificial Intelligence Platform (AIP) across government and commercial customers. Investors are also looking for another revenue beat and a potential increase to full-year guidance. Will Top-Line Improvement Benefit Palantir in Q3 Earnings?
• Positive Sentiment: Several analysts see additional upside. JPMorgan initiated coverage with an Overweight rating, placed Palantir on its Analyst Focus List and set a December 2027 price target of $262. Oppenheimer also raised its target to $235 from $200 and maintained an Outperform rating, citing the potential for continued revenue beats. JPMorgan starts Palantir at Overweight
• Neutral Sentiment: Earnings are the immediate catalyst. Wall Street expects exceptional revenue and profit growth, but the stock’s roughly 60% rally since its previous report has raised the bar. Investors will focus on revenue growth, commercial customer momentum and guidance when Palantir reports. Should Palantir Stock Be in Your Portfolio Before Q3 Earnings?
• Negative Sentiment: Valuation and chart weakness are limiting enthusiasm. With a market capitalization above $440 billion and a price-to-earnings ratio near 157, Palantir has substantial growth already priced in. Shares are testing their 50-day moving average near $186.70; technical analysts identify stronger support around $160–$166 if the earnings reaction disappoints. Palantir Price Forecast: Earnings Loom as Downside Risks Build
• Negative Sentiment: Market conditions are adding pressure. A broader technology sell-off and concerns about excessive AI spending have encouraged investors to adopt a more defensive stance. Morgan Stanley has retained a Hold rating, citing Palantir’s rich valuation, while a negative earnings-surprise indicator adds near-term risk. Ahead of Palantir Earnings, Here’s What Barchart Data Says

Analysts Set New Price Targets

PLTR has been the subject of several analyst reports. Robert W. Baird set a $250.00 price objective on Palantir Technologies in a research note on Monday, October 12th. Raymond James Financial upgraded Palantir Technologies from a “hold” rating to a “moderate buy” rating in a research note on Thursday, October 8th. Barclays assumed coverage on Palantir Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $265.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Palantir Technologies in a research report on Thursday. They set an “overweight” rating and a $262.00 price target for the company. Finally, Mizuho upped their price objective on shares of Palantir Technologies from $215.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.60.

Palantir Technologies Company Profile

Palantir Technologies Inc develops software platforms that help government agencies and commercial organizations integrate, analyze and act on data. Its products are designed to support complex operations such as defense and intelligence, supply-chain management, manufacturing, healthcare and other data-intensive activities.

Palantir’s principal platforms include Gotham, which is primarily used by government and defense customers; Foundry, which helps commercial and institutional users build data-driven workflows; Apollo, a platform for deploying and managing software across diverse environments; and the Artificial Intelligence Platform (AIP), which connects generative artificial intelligence capabilities with an organization’s data and operational systems.

Founded in 2003, the company initially focused on software for government and national-security applications before expanding into commercial markets.