Glenmede Trust Co. NA Acquires 10,040 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Glenmede Trust Co. NA raised its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 87.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 21,558 shares of the company’s stock after acquiring an additional 10,040 shares during the period. Glenmede Trust Co. NA’s holdings in Palantir Technologies were worth $802,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies in the third quarter worth $25,000. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. Creekmur Asset Management LLC boosted its holdings in shares of Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after buying an additional 335 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE increased its holdings in Palantir Technologies by 47.5% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company’s stock valued at $44,000 after buying an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Activity

In other news, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. The trade was a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,423,181 shares of company stock valued at $1,972,588,658 in the last ninety days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

NYSE:PLTR opened at $70.96 on Wednesday. The stock’s 50 day simple moving average is $50.11 and its two-hundred day simple moving average is $35.72. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $71.37. The company has a market cap of $161.65 billion, a price-to-earnings ratio of 354.82, a PEG ratio of 8.98 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the previous year, the firm posted $0.03 EPS. The business’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wedbush boosted their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. DA Davidson raised their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Mizuho boosted their price objective on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $35.64.

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.