Palantir Technologies Inc. $PLTR is Farmers Trust Co.’s 7th Largest Position

Farmers Trust Co. cut its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 11.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 62,089 shares of the company’s stock after selling 8,250 shares during the period. Palantir Technologies comprises approximately 2.0% of Farmers Trust Co.’s portfolio, making the stock its 7th largest holding. Farmers Trust Co.’s holdings in Palantir Technologies were worth $11,326,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PLTR. Hobart Private Capital LLC acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $210,000. Rydar Equities Inc. acquired a new stake in shares of Palantir Technologies in the 2nd quarter valued at $2,414,000. National Wealth Management Group LLC lifted its position in shares of Palantir Technologies by 19.8% during the 2nd quarter. National Wealth Management Group LLC now owns 25,057 shares of the company’s stock worth $3,416,000 after purchasing an additional 4,147 shares during the last quarter. CacheTech Inc. grew its stake in shares of Palantir Technologies by 10.3% during the second quarter. CacheTech Inc. now owns 8,427 shares of the company’s stock worth $1,149,000 after purchasing an additional 787 shares in the last quarter. Finally, Adams Wealth Management grew its stake in shares of Palantir Technologies by 10.3% during the second quarter. Adams Wealth Management now owns 8,427 shares of the company’s stock worth $1,149,000 after purchasing an additional 787 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Down 0.2%

NASDAQ:PLTR opened at $183.25 on Tuesday. The company has a market capitalization of $436.76 billion, a PE ratio of 436.32, a P/E/G ratio of 7.12 and a beta of 1.49. Palantir Technologies Inc. has a 52-week low of $63.40 and a 52-week high of $207.52. The stock’s 50 day moving average price is $179.39 and its 200 day moving average price is $164.33.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company’s revenue was up 62.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Northland Securities lifted their price target on Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. Citigroup raised their target price on Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Royal Bank Of Canada boosted their target price on Palantir Technologies from $45.00 to $50.00 and gave the stock an “underperform” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Morgan Stanley boosted their price objective on shares of Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $172.28.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 39,136 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $6,115,000.00. Following the completion of the sale, the insider owned 592 shares in the company, valued at approximately $92,500. This represents a 98.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Glazer sold 1,973 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $156.25, for a total value of $308,281.25. Following the transaction, the insider directly owned 413,639 shares in the company, valued at approximately $64,631,093.75. This represents a 0.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,008,844 shares of company stock worth $164,676,161 over the last 90 days. 9.23% of the stock is owned by corporate insiders.

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.