Arthur M. Cohen & Associates LLC Grows Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Arthur M. Cohen & Associates LLC lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 25.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,438 shares of the company's stock after buying an additional 3,530 shares during the quarter. Arthur M. Cohen & Associates LLC's holdings in Palantir Technologies were worth $1,472,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Palantir Technologies in the 4th quarter worth $1,360,191,000. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after acquiring an additional 3,907,022 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors purchased a new position in shares of Palantir Technologies during the 4th quarter worth $253,816,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Up 6.5%

PLTR stock traded up $7.81 during mid-day trading on Friday, hitting $127.72. The company had a trading volume of 86,933,462 shares, compared to its average volume of 80,061,597. The company has a market capitalization of $301.41 billion, a price-to-earnings ratio of 672.25, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $135.28. The company has a 50-day moving average price of $110.01 and a 200 day moving average price of $92.37.

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

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 358,982 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider now directly owns 6,432,258 shares of the company's stock, valued at $812,973,088.62. This represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,894,925 shares of company stock valued at $369,820,528 in the last ninety days. Corporate insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PLTR shares. DA Davidson lifted their target price on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Mizuho lifted their price objective on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $83.95.

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.