Jacobs & Co. CA Trims Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Jacobs & Co. CA reduced its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 32.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,368 shares of the company's stock after selling 7,000 shares during the period. Jacobs & Co. CA's holdings in Palantir Technologies were worth $1,212,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $1,360,191,000. Geode Capital Management LLC raised its position 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 in the last quarter. Wellington Management Group LLP raised its position in shares of Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock worth $354,117,000 after buying an additional 3,907,022 shares in the last quarter. Invesco Ltd. raised its position in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after buying an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors purchased a new stake in shares of Palantir Technologies in the fourth quarter worth $253,816,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Down 1.2%

Palantir Technologies stock traded down $1.44 during trading hours on Thursday, hitting $122.32. 62,834,015 shares of the stock traded hands, compared to its average volume of 78,213,696. The firm's 50-day moving average price is $105.30 and its two-hundred day moving average price is $89.40. The company has a market cap of $288.66 billion, a PE ratio of 643.82, a PEG ratio of 10.84 and a beta of 2.68. Palantir Technologies Inc. has a one year low of $21.01 and a one year high of $133.49.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on PLTR shares. Cantor Fitzgerald raised their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Mizuho raised their price target on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research report on Tuesday, May 6th. Jefferies Financial Group raised their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Bank of America raised their price target on 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 raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research report on Tuesday, February 4th. Five investment 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. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $83.95.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 6,776 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares in the company, valued at $15,993,370.71. This trade represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company's stock, valued at approximately $50,497.60. The trade was a 99.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,901,701 shares of company stock worth $370,407,533. Insiders own 9.23% 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.