Summit Trail Advisors LLC Cuts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Summit Trail Advisors LLC cut its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 7.3% during the fourth quarter, Holdings Channel reports. The firm owned 352,011 shares of the company’s stock after selling 27,694 shares during the quarter. Palantir Technologies makes up 1.0% of Summit Trail Advisors LLC’s portfolio, making the stock its 15th biggest holding. Summit Trail Advisors LLC’s holdings in Palantir Technologies were worth $26,623,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Tritonpoint Wealth LLC boosted its position in shares of Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after acquiring an additional 132 shares during the last quarter. Kennebec Savings Bank boosted its holdings in shares of Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after purchasing an additional 159 shares during the last quarter. RMR Wealth Builders increased its holdings in shares of Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock worth $545,000 after purchasing an additional 167 shares during the last quarter. Bay Rivers Group lifted its position in shares of Palantir Technologies by 2.7% in the fourth quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock worth $484,000 after buying an additional 171 shares in the last quarter. Finally, Christensen King & Associates Investment Services Inc. boosted its stake in Palantir Technologies by 3.0% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock valued at $486,000 after buying an additional 174 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $116.65 on Tuesday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $116.76. The company has a 50-day moving average of $77.34 and a 200 day moving average of $53.60. The firm has a market cap of $265.73 billion, a PE ratio of 613.98, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81.

Wall Street Analyst Weigh In

PLTR has been the topic of several recent research reports. UBS Group upped their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Royal Bank of Canada upped their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Bank of America upped their target price on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, Northland Securities lifted their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $69.44.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $66.77, for a total transaction of $650,740.42. Following the completion of the sale, the director now directly owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 1,823,602 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $63.12, for a total transaction of $115,105,758.24. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $406,004,124.96. The trade was a 22.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,656,687 shares of company stock valued at $1,040,105,687 over the last ninety days. 12.93% of the stock is owned by company insiders.

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.