First National Trust Co Boosts Holdings in Palantir Technologies Inc. (NYSE:PLTR)

First National Trust Co grew its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 4.9% in the third quarter, Holdings Channel reports. The firm owned 16,191 shares of the company’s stock after purchasing an additional 760 shares during the period. First National Trust Co’s holdings in Palantir Technologies were worth $602,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in Palantir Technologies during the third quarter worth about $25,000. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies during the second quarter worth about $25,000. Creekmur Asset Management LLC increased its position in shares of Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after purchasing an additional 335 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies in the second quarter valued at approximately $30,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $60.70 on Thursday. The company has a market capitalization of $135.93 billion, a P/E ratio of 303.52 and a beta of 2.70. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $63.39. The stock has a 50 day moving average price of $41.30 and a two-hundred day moving average price of $31.25.

Palantir Technologies (NYSE:PLTR) last posted its quarterly 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. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 EPS. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PLTR. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Bank of America raised their price target on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Northland Securities lifted their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $31.71.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 8,860 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the transaction, the director now owns 121,390 shares in the company, valued at $7,047,903.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $58.06, for a total transaction of $514,411.60. Following the transaction, the director now owns 121,390 shares in the company, valued at $7,047,903.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,399,238 shares of company stock worth $1,041,851,557. Company insiders own 12.93% of the company’s stock.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.