Palantir Technologies Inc. (NYSE:PLTR) Stock Holdings Trimmed by Summit Trail Advisors LLC

Summit Trail Advisors LLC lowered its position in Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 10.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 379,705 shares of the company's stock after selling 45,066 shares during the period. Summit Trail Advisors LLC's holdings in Palantir Technologies were worth $14,125,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Walter & Keenan Wealth Management LLC IN ADV boosted its holdings in Palantir Technologies by 1.2% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company's stock valued at $729,000 after acquiring an additional 235 shares during the period. Greater Midwest Financial Group LLC boosted its position in Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company's stock valued at $3,251,000 after purchasing an additional 250 shares in the last quarter. Quantum Private Wealth LLC lifted its position in Palantir Technologies by 1.1% during the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company's stock worth $865,000 after acquiring an additional 250 shares during the period. LCM Capital Management Inc boosted its position in Palantir Technologies by 0.9% in the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company's stock worth $1,207,000 after purchasing an additional 300 shares in the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV boosted its stake in shares of Palantir Technologies by 0.6% in the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company's stock worth $1,799,000 after acquiring an additional 300 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.35, for a total value of $218,100.00. Following the sale, the director now owns 152,280 shares of the company's stock, valued at $5,535,378. The trade was a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan D. Taylor sold 155,539 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the sale, the insider now owns 331,369 shares in the company, valued at $11,604,542.38. The trade was a 31.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,167,451 shares of company stock valued at $1,603,067,889 in the last 90 days. Company insiders own 12.93% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on PLTR. Bank of America raised their price objective on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Jefferies Financial Group lowered Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price target for the company. in a research report on Thursday, November 7th. Citigroup lifted their price objective on Palantir Technologies from $25.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an "underperform" rating and issued a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Raymond James lowered Palantir Technologies from an "outperform" rating to a "market perform" rating in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $31.71.

Palantir Technologies Price Performance

Shares of PLTR stock traded up $2.99 during trading hours on Friday, reaching $64.35. The company had a trading volume of 61,381,713 shares, compared to its average volume of 81,555,904. The business has a fifty day simple moving average of $45.94 and a 200-day simple moving average of $33.48. The company has a market cap of $146.59 billion, a price-to-earnings ratio of 321.77 and a beta of 2.70. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $66.00.

Palantir Technologies (NYSE:PLTR - Get Free Report) last issued 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 firm had revenue of $725.52 million for the quarter, compared to analysts' expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business's revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, equities research analysts expect 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.