Farmers Trust Co. Sells 13,293 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Farmers Trust Co. reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,001 shares of the company's stock after selling 13,293 shares during the period. Palantir Technologies comprises approximately 1.2% of Farmers Trust Co.'s investment 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 SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors LLC bought a new stake in shares of Palantir Technologies during the second quarter worth about $274,000. TD Asset Management Inc lifted its stake in shares of Palantir Technologies by 7.1% in the second quarter. TD Asset Management Inc now owns 468,890 shares of the company's stock worth $11,877,000 after acquiring an additional 31,047 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Palantir Technologies by 18.4% in the second quarter. Victory Capital Management Inc. now owns 660,076 shares of the company's stock worth $16,720,000 after acquiring an additional 102,758 shares during the period. Candriam S.C.A. boosted its holdings 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 increased its position in Palantir Technologies by 23.7% during the 2nd quarter. Ballentine Partners LLC now owns 12,339 shares of the company's stock valued at $313,000 after purchasing an additional 2,368 shares during the period. 45.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on PLTR shares. Robert W. Baird assumed coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They issued a "neutral" rating and a $70.00 price objective for the company. Argus downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Jefferies Financial Group downgraded Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price objective for the company. in a report on Thursday, November 7th. Raymond James cut Palantir Technologies from an "outperform" rating to a "market perform" rating in a report on Monday, September 23rd. Finally, DA Davidson boosted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a research note on Tuesday, November 5th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $42.12.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares of the company's stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the transaction, the insider now owns 562,006 shares of the company's stock, valued at approximately $28,077,819.76. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,645,510 shares of company stock worth $1,444,267,325. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Down 2.5 %

NASDAQ PLTR traded down $1.76 during trading hours on Wednesday, reaching $68.23. 91,110,504 shares of the company were exchanged, compared to its average volume of 84,501,508. The stock has a market capitalization of $155.43 billion, a P/E ratio of 341.17, a P/E/G ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a 1 year low of $16.03 and a 1 year high of $84.80. The business's 50 day simple moving average is $67.89 and its 200-day simple moving average is $45.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the business posted $0.03 EPS. Palantir Technologies's quarterly revenue was up 30.0% compared to the same quarter last year. As a group, 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 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.