Moors & Cabot Inc. Has $9.62 Million Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Key Points

• Moors & Cabot Inc. increased its stake in Palantir Technologies by 5.0%, bringing its total holdings to 114,018 shares, valued at approximately $9.6 million.
• Analysts have upgraded their price targets for Palantir Technologies, with new targets ranging from $96.45 to $178.00, indicating varied sentiment among professionals.
• Insider transactions showed significant selling activity, with Alexander C. Karp selling 358,982 shares, leading to a 5.29% decrease in his ownership of the stock.

Moors & Cabot Inc. grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,018 shares of the company's stock after acquiring an additional 5,474 shares during the period. Moors & Cabot Inc.'s holdings in Palantir Technologies were worth $9,623,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PLTR. Howland Capital Management LLC boosted its position in shares of Palantir Technologies by 4.3% during the first quarter. Howland Capital Management LLC now owns 6,000 shares of the company's stock worth $506,000 after buying an additional 250 shares during the period. US Bancorp DE increased its holdings in shares of Palantir Technologies by 29.4% in the first quarter. US Bancorp DE now owns 422,010 shares of the company's stock valued at $35,618,000 after buying an additional 95,777 shares in the last quarter. Elios Financial Group Inc. acquired a new stake in Palantir Technologies during the 1st quarter valued at $228,000. Pasadena Private Wealth LLC acquired a new stake in Palantir Technologies during the 1st quarter valued at $253,000. Finally, Coastal Bridge Advisors LLC purchased a new position in shares of Palantir Technologies during the 1st quarter valued at $260,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

PLTR traded down $4.08 during mid-day trading on Friday, hitting $154.27. The stock had a trading volume of 60,986,881 shares, compared to its average volume of 52,655,748. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $160.89. The stock's fifty day simple moving average is $140.37 and its 200-day simple moving average is $111.96. The firm has a market capitalization of $364.06 billion, a price-to-earnings ratio of 670.74, a price-to-earnings-growth ratio of 13.50 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (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 firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period in the previous year, the business earned $0.08 EPS. The company's revenue was up 39.4% compared to the same quarter last year. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Piper Sandler began coverage on shares of Palantir Technologies in a research report on Friday, July 25th. They issued an "overweight" rating and a $170.00 price target for the company. Loop Capital increased their price target on shares of Palantir Technologies from $155.00 to $178.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $96.45.

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 35,480 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the sale, the insider owned 367,691 shares of the company's stock, valued at approximately $46,472,465.49. The trade was a 8.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 309,696 shares of Palantir Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $39,142,477.44. Following the sale, the insider directly owned 592 shares of the company's stock, valued at $74,822.88. The trade was a 99.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,485,632 shares of company stock worth $191,222,623. Corporate insiders own 9.23% of the company's stock.

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.