Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Whittier Trust Co.

Whittier Trust Co. cut its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,926 shares of the company’s stock after selling 1,126 shares during the period. Whittier Trust Co.’s holdings in Palantir Technologies were worth $1,441,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Summit Securities Group LLC acquired a new stake in Palantir Technologies in the second quarter valued at $25,000. First United Bank & Trust acquired a new position in Palantir Technologies during the fourth quarter worth approximately $26,000. West Paces Advisors Inc. boosted its holdings in shares of Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares during the period. Finally, Bogart Wealth LLC increased its holdings in shares of Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after acquiring an additional 1,065 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 2.1 %

Palantir Technologies stock opened at $31.00 on Friday. The firm’s 50-day simple moving average is $28.06 and its 200 day simple moving average is $24.83. Palantir Technologies Inc. has a 52 week low of $13.68 and a 52 week high of $33.13. The firm has a market capitalization of $69.03 billion, a PE ratio of 258.33, a P/E/G ratio of 5.66 and a beta of 2.71.

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

Insiders Place Their Bets

In related news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $24,352,627.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Alexander D. Moore sold 20,422 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $22.94, for a total transaction of $468,480.68. Following the transaction, the director now owns 1,587,707 shares of the company’s stock, valued at approximately $36,421,998.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $24,352,627.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 714,648 shares of company stock valued at $21,567,539. Corporate insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of a number of research reports. Raymond James upped their target price on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Argus assumed coverage on Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 target price on the stock. Citigroup lifted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Monness Crespi & Hardt cut their price objective 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. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.93.

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.