Farmers Trust Co. Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

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

Other large investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies during the second quarter worth $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the 2nd quarter worth about $25,000. West Paces Advisors Inc. increased its holdings in shares of Palantir Technologies by 110.7% in the 1st 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 last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at about $30,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Bank of America increased their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Citigroup upped 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. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group boosted their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.29.

Insider Buying and Selling at Palantir Technologies

In related news, Director Eric H. Woersching sold 3,026 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the transaction, the director now owns 29,817 shares in the company, valued at $834,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the sale, the director now directly owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The disclosure for this sale can be found here. Insiders have sold a total of 17,814,881 shares of company stock valued at $648,616,023 in the last three months. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Up 4.7 %

PLTR stock opened at $39.25 on Friday. The company has a market capitalization of $87.90 billion, a P/E ratio of 327.11 and a beta of 2.72. The company has a 50-day simple moving average of $32.23 and a 200 day simple moving average of $26.67. Palantir Technologies Inc. has a fifty-two week low of $14.48 and a fifty-two week high of $39.29.

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

Palantir Technologies Company 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.