Summit Trail Advisors LLC Cuts Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Summit Trail Advisors LLC lessened its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 10.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 379,705 shares of the company’s stock after selling 45,066 shares during the quarter. Summit Trail Advisors LLC’s holdings in Palantir Technologies were worth $14,125,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Summit Securities Group LLC purchased a new position in Palantir Technologies in the second quarter valued at $25,000. Farmers & Merchants Investments Inc. acquired a new stake in Palantir Technologies in the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies during the second quarter worth about $30,000. Finally, Beacon Capital Management LLC increased its stake in shares of Palantir Technologies by 269.5% during the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Heather A. Planishek sold 14,016 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total transaction of $429,870.72. Following the completion of the sale, the insider now owns 576,023 shares in the company, valued at $17,666,625.41. This represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the sale, the director now directly owns 1,510,630 shares of the company’s stock, valued at approximately $46,663,360.70. This represents a 1.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,167,451 shares of company stock valued at $1,603,067,889. Insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent research reports. Northland Securities lifted their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. DA Davidson raised their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Wedbush lifted their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $31.71.

Palantir Technologies Stock Up 4.9 %

Shares of NYSE PLTR opened at $64.35 on Friday. The stock has a market cap of $146.59 billion, a PE ratio of 321.77 and a beta of 2.70. Palantir Technologies Inc. has a 52-week low of $15.66 and a 52-week high of $66.00. The business has a 50-day moving average price of $45.94 and a 200 day moving average price of $33.39.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.03 earnings per share. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

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.