Summit Trail Advisors LLC Sells 102,903 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Summit Trail Advisors LLC trimmed its position in Palantir Technologies Inc. (NYSE:PLTR) by 19.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 424,771 shares of the company’s stock after selling 102,903 shares during the period. Summit Trail Advisors LLC’s holdings in Palantir Technologies were worth $10,759,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after buying an additional 3,029,317 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after acquiring an additional 1,980,495 shares during the period. ARK Investment Management LLC raised its holdings in shares of Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after purchasing an additional 277,623 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Palantir Technologies by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after purchasing an additional 292,885 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.0 %

Palantir Technologies stock opened at $37.20 on Friday. The stock has a market cap of $83.31 billion, a price-to-earnings ratio of 310.03 and a beta of 2.72. The business has a 50-day simple moving average of $30.57 and a 200 day simple moving average of $25.90. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $37.35.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the sale, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the sale, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The disclosure for this sale can be found here. Insiders have sold 5,383,238 shares of company stock valued at $190,231,672 in the last quarter. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Northland Securities assumed coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price objective on the stock. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Mizuho cut shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their price target for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. Finally, Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $26.79.

Palantir Technologies Profile

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.