Summit Trail Advisors LLC Trims Stake in Palantir Technologies Inc. (NYSE:PLTR)

Summit Trail Advisors LLC cut its stake in Palantir Technologies Inc. (NYSE:PLTR) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLTR. Walter & Keenan Wealth Management LLC IN ADV increased its stake in shares of Palantir Technologies by 1.2% in 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 purchasing an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC grew its holdings in Palantir Technologies by 0.3% in 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 during the period. Quantum Private Wealth LLC increased its position in shares of Palantir Technologies by 1.1% in the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after buying an additional 250 shares in the last quarter. LCM Capital Management Inc raised its stake in shares of Palantir Technologies by 0.9% during the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after buying an additional 300 shares during the period. Finally, Acorn Financial Advisory Services Inc. ADV lifted its position in shares of Palantir Technologies by 0.6% during the 3rd quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company’s stock valued at $1,799,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 4.9 %

NYSE PLTR opened at $64.35 on Friday. The business’s fifty day simple moving average is $45.94 and its 200-day simple moving average is $33.39. The firm 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.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data 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. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same period last year, the business earned $0.03 earnings per share. Research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction dated 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 directly owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. This trade represents a 2.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 1,007,496 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $411,407,221.68. The trade was a 13.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,167,451 shares of company stock worth $1,603,067,889. Insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wedbush boosted their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Finally, DA Davidson lifted their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Six 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 stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $31.71.

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.