Cookson Peirce & Co. Inc. Sells 7,506 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Cookson Peirce & Co. Inc. reduced its stake in Palantir Technologies by 8.6% in Q1, selling 7,506 shares, which left them with a total of 79,976 shares valued at approximately $6.75 million.
• Palantir Technologies reported a 48% increase in revenue year-over-year for the quarter, achieving earnings of $0.16 per share compared to analysts' expectations of $0.14.
• Multiple analysts recently adjusted their price targets on Palantir, with Wedbush setting a new target of $200 and Citigroup raising theirs to $177, reflecting a generally optimistic market outlook.

Cookson Peirce & Co. Inc. trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,976 shares of the company's stock after selling 7,506 shares during the period. Cookson Peirce & Co. Inc.'s holdings in Palantir Technologies were worth $6,750,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PLTR. Northern Trust Corp grew its stake in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Invesco Ltd. grew its stake in shares of Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the period. Goldman Sachs Group Inc. grew its position in Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock worth $1,149,055,000 after acquiring an additional 571,544 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Palantir Technologies by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 13,031,532 shares of the company's stock worth $1,099,861,000 after acquiring an additional 187,860 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on PLTR. Wall Street Zen upgraded Palantir Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. UBS Group restated a "neutral" rating and set a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. Bank of America increased their price target on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Cantor Fitzgerald increased their price target on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and an average target price of $136.61.

Palantir Technologies Stock Down 1.8%

Shares of PLTR traded down $3.35 during trading hours on Thursday, reaching $181.02. The stock had a trading volume of 53,317,061 shares, compared to its average volume of 60,054,936. Palantir Technologies Inc. has a 52 week low of $29.31 and a 52 week high of $190.00. The firm has a 50-day moving average of $150.04 and a 200 day moving average of $118.54. The company has a market cap of $427.19 billion, a P/E ratio of 603.42, a P/E/G ratio of 10.39 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $939.29 million. During the same quarter in the prior year, the company earned $0.09 EPS. The firm's quarterly revenue was up 48.0% on a year-over-year basis. As a group, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total transaction of $111,688.00. Following the completion of the transaction, the director owned 62,887 shares in the company, valued at approximately $8,779,654.07. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 39,825 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $5,016,755.25. Following the transaction, the insider owned 6,432,258 shares of the company's stock, valued at approximately $810,271,540.26. This trade represents a 0.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,515,632 shares of company stock worth $196,472,623 over the last 90 days. 9.23% of the stock is currently owned by corporate 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.