First National Trust Co Trims Position in Palantir Technologies Inc. (NYSE:PLTR)

First National Trust Co trimmed its position in Palantir Technologies Inc. (NYSE:PLTR) by 26.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,431 shares of the company’s stock after selling 5,649 shares during the quarter. First National Trust Co’s holdings in Palantir Technologies were worth $265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Raymond James & Associates raised its holdings in shares of Palantir Technologies by 18.8% during the third quarter. Raymond James & Associates now owns 1,563,991 shares of the company’s stock valued at $25,024,000 after acquiring an additional 247,595 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Palantir Technologies by 16.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,080,570 shares of the company’s stock valued at $17,289,000 after buying an additional 154,085 shares during the last quarter. J.W. Cole Advisors Inc. lifted its holdings in Palantir Technologies by 118.0% in the third quarter. J.W. Cole Advisors Inc. now owns 24,538 shares of the company’s stock valued at $393,000 after acquiring an additional 13,281 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Palantir Technologies by 1.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,537,415 shares of the company’s stock worth $120,599,000 after acquiring an additional 72,889 shares during the period. Finally, Brown Advisory Inc. lifted its holdings in shares of Palantir Technologies by 9.9% in the third quarter. Brown Advisory Inc. now owns 14,425 shares of the company’s stock valued at $231,000 after purchasing an additional 1,300 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

Shares of PLTR stock traded up $1.39 during trading hours on Monday, reaching $24.72. 24,336,689 shares of the company traded hands, compared to its average volume of 60,728,035. The company has a market cap of $54.70 billion, a P/E ratio of 259.25, 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 Inc. has a 12-month low of $7.59 and a 12-month high of $27.50.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, February 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 net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Sell-side analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

PLTR has been the topic of several analyst reports. Raymond James raised their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Wedbush reiterated an “outperform” rating and issued a $35.00 target price on shares of Palantir Technologies in a report on Monday. Monness Crespi & Hardt raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday, April 26th. Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Finally, HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a report on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $18.35.

Insider Buying and Selling

In related news, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the sale, the director now directly owns 70,806,432 shares of the company’s stock, valued at $1,755,291,449.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the sale, the insider now directly owns 181,460 shares in the company, valued at $3,992,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the completion of the transaction, the director now owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,476,273 shares of company stock worth $184,783,602. Insiders own 13.96% of the company’s stock.

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.