Summit Trail Advisors LLC Reduces Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Summit Trail Advisors LLC lowered its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 7.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 352,011 shares of the company’s stock after selling 27,694 shares during the quarter. Palantir Technologies comprises 1.0% of Summit Trail Advisors LLC’s portfolio, making the stock its 15th largest position. Summit Trail Advisors LLC’s holdings in Palantir Technologies were worth $26,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its stake in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. First PREMIER Bank bought a new position in Palantir Technologies in the fourth quarter worth $28,000. Wolff Wiese Magana LLC raised its holdings in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Palantir Technologies during the fourth quarter valued at $33,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Up 5.2 %

Shares of NASDAQ PLTR opened at $116.65 on Tuesday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $116.76. The firm has a market capitalization of $265.73 billion, a price-to-earnings ratio of 613.98, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. The firm has a 50 day moving average of $77.34 and a 200 day moving average of $53.60.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent research reports. Wedbush upped their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Royal Bank of Canada upped their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Cantor Fitzgerald upped their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird raised their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.44.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 1,823,602 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total value of $115,105,758.24. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $406,004,124.96. This trade represents a 22.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,656,687 shares of company stock worth $1,040,105,687 in the last 90 days. 12.93% of the stock is currently owned by insiders.

Palantir Technologies 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.