Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Farmers Trust Co.

Farmers Trust Co. lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 13.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,001 shares of the company’s stock after selling 13,293 shares during the quarter. Palantir Technologies comprises about 1.2% of Farmers Trust Co.’s holdings, making the stock its 24th biggest holding. Farmers Trust Co.’s holdings in Palantir Technologies were worth $6,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies during the third quarter worth about $25,000. Prestige Wealth Management Group LLC lifted its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies in the 2nd quarter valued at approximately $30,000. Ashburton Jersey Ltd acquired a new position in Palantir Technologies during the 2nd quarter worth approximately $36,000. Finally, Creekmur Asset Management LLC raised its stake in shares of Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after buying an additional 335 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,645,510 shares of company stock worth $1,444,267,325 in the last 90 days. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Down 2.4 %

Shares of NASDAQ PLTR traded down $1.70 during trading on Wednesday, hitting $68.29. 79,846,328 shares of the company traded hands, compared to its average volume of 81,873,414. The company has a 50-day moving average price of $67.40 and a 200-day moving average price of $45.06. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The firm has a market capitalization of $155.57 billion, a P/E ratio of 341.47, a P/E/G ratio of 10.18 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the firm posted $0.03 EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. Research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PLTR. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Wedbush boosted their price target on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Finally, UBS Group began coverage on Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.12.

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.