Farmers Trust Co. Has $6.17 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Farmers Trust Co. trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 10.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,058 shares of the company's stock after selling 8,943 shares during the quarter. Palantir Technologies accounts for 1.2% of Farmers Trust Co.'s portfolio, making the stock its 27th largest holding. Farmers Trust Co.'s holdings in Palantir Technologies were worth $6,166,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Roxbury Financial LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $27,000. HighMark Wealth Management LLC boosted its stake in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at $31,000. R Squared Ltd acquired a new stake in Palantir Technologies in the 4th quarter valued at about $33,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $34,000. 45.65% of the stock is currently owned by institutional investors.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at $48,988. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander C. Karp sold 39,825 shares of Palantir Technologies stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $5,016,755.25. Following the sale, the insider now directly owns 6,432,258 shares of the company's stock, valued at $810,271,540.26. This represents a 0.62% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,901,701 shares of company stock worth $370,407,533. 9.23% of the stock is owned by insiders.

Palantir Technologies Price Performance

PLTR stock traded up $4.31 during trading hours on Friday, reaching $126.63. The stock had a trading volume of 185,234,367 shares, compared to its average volume of 78,767,225. The stock has a 50-day simple moving average of $105.90 and a 200 day simple moving average of $89.86. Palantir Technologies Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $133.49. The stock has a market capitalization of $298.84 billion, a PE ratio of 666.51, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the company posted $0.08 earnings per share. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PLTR. Daiwa Capital Markets assumed coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Mizuho boosted their price target on shares of Palantir Technologies from $80.00 to $94.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 6th. Finally, Loop Capital increased their price objective on shares of Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $83.95.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.