Summit Trail Advisors LLC Sells 60,885 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Summit Trail Advisors LLC reduced its position in Palantir Technologies Inc. (NYSE:PLTR) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 539,641 shares of the company’s stock after selling 60,885 shares during the period. Summit Trail Advisors LLC’s holdings in Palantir Technologies were worth $9,266,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Palantir Technologies by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock worth $2,997,419,000 after acquiring an additional 18,756,392 shares during the last quarter. Morgan Stanley increased its stake in Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after purchasing an additional 4,675,824 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Palantir Technologies by 8.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock worth $216,183,000 after buying an additional 955,992 shares during the last quarter. Northern Trust Corp grew its position in shares of Palantir Technologies by 5.5% in the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock worth $183,979,000 after buying an additional 601,012 shares during the last quarter. Finally, ARK Investment Management LLC grew its position in shares of Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after buying an additional 1,514,232 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PLTR. Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research report on Wednesday, February 14th. DA Davidson lifted their price target on Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday. Royal Bank of Canada restated an “underperform” rating and set a $5.00 price target on shares of Palantir Technologies in a research report on Tuesday, February 6th. Finally, Wedbush restated an “outperform” rating and set a $35.00 price target on shares of Palantir Technologies in a research report on Monday. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.88.

Insider Activity

In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now owns 662,006 shares of the company’s stock, valued at approximately $17,179,055.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now directly owns 181,830 shares of the company’s stock, valued at $4,563,933. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the completion of the transaction, the insider now directly owns 662,006 shares in the company, valued at $17,179,055.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,356,273 shares of company stock valued at $182,143,602. 13.96% of the stock is currently owned by insiders.

Palantir Technologies Price Performance

Shares of PLTR stock traded down $3.69 during trading hours on Tuesday, reaching $21.52. 83,920,311 shares of the company traded hands, compared to its average volume of 62,683,484. Palantir Technologies Inc. has a 12-month low of $7.59 and a 12-month high of $27.50. The company has a market cap of $47.62 billion, a P/E ratio of 237.47, a P/E/G ratio of 5.72 and a beta of 2.76. The firm has a 50-day moving average price of $23.36 and a 200 day moving average price of $20.25.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. Sell-side analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

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.