Peapack Gladstone Financial Corp Sells 13,157 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Peapack Gladstone Financial Corp cut its stake in Palantir Technologies Inc. (NYSE:PLTR) by 48.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,000 shares of the company’s stock after selling 13,157 shares during the period. Peapack Gladstone Financial Corp’s holdings in Palantir Technologies were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in shares of Palantir Technologies during the second quarter worth approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in shares of Palantir Technologies during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies during the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies during the second quarter worth approximately $30,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Up 3.9 %

Shares of PLTR opened at $76.07 on Monday. Palantir Technologies Inc. has a 12 month low of $15.66 and a 12 month high of $80.91. The firm has a fifty day simple moving average of $55.75 and a 200 day simple moving average of $38.63. The stock has a market capitalization of $173.29 billion, a price-to-earnings ratio of 380.37, a PEG ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. As a group, research analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $38.17, for a total value of $254,021.35. Following the transaction, the director now directly owns 145,625 shares of the company’s stock, valued at $5,558,506.25. This represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,612,366 shares of company stock valued at $1,867,342,292. 12.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent research reports. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday. DA Davidson boosted their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Mizuho boosted their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a report on Friday. Wedbush boosted their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Finally, Robert W. Baird assumed coverage on shares of Palantir Technologies in a report on Thursday. They set a “neutral” rating and a $70.00 price objective for the company. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.40.

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.