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

Farmers Trust Co. trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 13.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,001 shares of the company’s stock after selling 13,293 shares during the quarter. Palantir Technologies comprises 1.2% of Farmers Trust Co.’s portfolio, making the stock its 24th largest position. 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 institutional investors have also recently added to or reduced their stakes in PLTR. Natixis Advisors LLC acquired a new stake in shares of Palantir Technologies during the 2nd quarter valued at $274,000. TD Asset Management Inc grew its position in Palantir Technologies by 7.1% during the second quarter. TD Asset Management Inc now owns 468,890 shares of the company’s stock valued at $11,877,000 after purchasing an additional 31,047 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Palantir Technologies by 18.4% during the 2nd quarter. Victory Capital Management Inc. now owns 660,076 shares of the company’s stock valued at $16,720,000 after buying an additional 102,758 shares during the period. Candriam S.C.A. lifted its stake in Palantir Technologies by 4.6% in the second quarter. Candriam S.C.A. now owns 97,668 shares of the company’s stock valued at $2,474,000 after acquiring an additional 4,285 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in Palantir Technologies by 23.7% during the second quarter. Ballentine Partners LLC now owns 12,339 shares of the company’s stock valued at $313,000 after buying an additional 2,368 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PLTR shares. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley restated an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research report on Monday. DA Davidson upped their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Robert W. Baird began coverage on Palantir Technologies in a research report on Thursday, December 12th. They issued a “neutral” rating and a $70.00 price objective for the company. Finally, The Goldman Sachs Group raised their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $42.12.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. The trade was a 73.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the transaction, the director now owns 138,304 shares in the company, valued at approximately $6,071,545.60. This trade represents a 5.03 % 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 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Trading Down 2.4 %

Shares of NASDAQ PLTR traded down $1.70 during midday trading on Wednesday, hitting $68.29. 79,846,328 shares of the company’s stock were exchanged, compared to its average volume of 81,873,414. The business’s fifty day moving average price is $67.40 and its two-hundred day moving average price is $45.06. The company has a market cap of $155.57 billion, a price-to-earnings ratio of 341.47, a PEG ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a 12-month low of $16.03 and a 12-month high of $84.80.

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

Palantir Technologies 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.