95,294 Shares in Palantir Technologies Inc. (NYSE:PLTR) Bought by Farmers Trust Co.

Farmers Trust Co. purchased a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 95,294 shares of the company’s stock, valued at approximately $3,545,000.

Other institutional investors have also modified their holdings of the company. Evolution Wealth Advisors LLC boosted its position in shares of Palantir Technologies by 0.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock worth $1,853,000 after purchasing an additional 360 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Palantir Technologies by 2.6% during the second quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after buying an additional 379 shares during the last quarter. Gradient Investments LLC grew its holdings in shares of Palantir Technologies by 21.4% during the second quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock valued at $58,000 after buying an additional 406 shares during the last quarter. Apella Capital LLC raised its stake in Palantir Technologies by 3.7% in the 2nd quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock worth $323,000 after acquiring an additional 416 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in Palantir Technologies by 1.2% during the 2nd quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock worth $916,000 after acquiring an additional 416 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $39.25 on Friday. The firm has a fifty day moving average of $32.23 and a 200 day moving average of $26.67. The firm has a market cap of $87.90 billion, a PE ratio of 327.11 and a beta of 2.72. Palantir Technologies Inc. has a one year low of $14.48 and a one year high of $39.29.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the transaction, the director now owns 65,989 shares in the company, valued at approximately $1,744,089.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Peter Thiel sold 4,181,118 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $36.91, for a total value of $154,325,065.38. Following the completion of the transaction, the director now directly owns 38,502,451 shares in the company, valued at $1,421,125,466.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the sale, the director now directly owns 65,989 shares of the company’s stock, valued at $1,744,089.27. The disclosure for this sale can be found here. Insiders sold 17,814,881 shares of company stock valued at $648,616,023 over the last quarter. 12.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent research reports. Northland Securities assumed coverage on shares of Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target for the company. Monness Crespi & Hardt decreased their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Citigroup lifted their price objective on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $27.29.

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.