Cohen Capital Management Inc. Trims Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Cohen Capital Management Inc. decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 33.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,666 shares of the company's stock after selling 3,334 shares during the quarter. Cohen Capital Management Inc.'s holdings in Palantir Technologies were worth $563,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Revolve Wealth Partners LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $450,000. Proficio Capital Partners LLC purchased a new stake in Palantir Technologies in the fourth quarter worth approximately $522,000. Skandinaviska Enskilda Banken AB publ bought a new position in Palantir Technologies during the fourth quarter valued at approximately $386,000. Natixis Advisors LLC lifted its stake in Palantir Technologies by 266.6% in the fourth quarter. Natixis Advisors LLC now owns 200,683 shares of the company's stock worth $15,178,000 after purchasing an additional 145,941 shares during the last quarter. Finally, one8zero8 LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at about $3,474,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price target on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a report on Wednesday, June 25th. Mizuho raised their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research report on Wednesday, June 11th. Finally, Daiwa Capital Markets started coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $90.37.

Palantir Technologies Stock Performance

NASDAQ PLTR traded up $7.05 on Monday, reaching $149.15. 81,498,736 shares of the stock traded hands, compared to its average volume of 96,976,188. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $149.58. The company has a fifty day moving average price of $130.81 and a 200-day moving average price of $103.96. The company has a market cap of $351.98 billion, a price-to-earnings ratio of 648.48, a PEG ratio of 12.13 and a beta of 2.59.

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, meeting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the business posted $0.08 EPS. The company's quarterly revenue was up 39.4% compared to the same quarter last year. As a group, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the sale, the director directly owned 2,348 shares in the company, valued at approximately $307,470.60. This trade represents a 81.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the sale, the director directly owned 62,887 shares of the company's stock, valued at approximately $8,779,654.07. This represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,452,297 shares of company stock valued at $186,222,373 over the last 90 days. Company insiders own 12.93% of the company's stock.

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.