Palantir Technologies Inc. (NASDAQ:PLTR) Stock Holdings Reduced by LCM Capital Management Inc

Key Points

• LCM Capital Management Inc reduced its stake in Palantir Technologies by 10.8%, holding 27,905 shares valued at approximately $2,355,000 after selling 3,385 shares in the first quarter.
• Palantir Technologies received upgraded price targets from several analysts, with Goldman Sachs increasing their target from $80.00 to $90.00 and Loop Capital raising theirs from $155.00 to $178.00.
• Insider sales included a significant transaction where CEO Stephen Andrew Cohen sold 309,696 shares for about $39.14 million, resulting in a drastic decrease of his ownership position.

LCM Capital Management Inc lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 10.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,905 shares of the company's stock after selling 3,385 shares during the quarter. Palantir Technologies accounts for approximately 1.4% of LCM Capital Management Inc's investment portfolio, making the stock its 13th largest position. LCM Capital Management Inc's holdings in Palantir Technologies were worth $2,355,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Allegiance Financial Group Advisory Services LLC increased its stake in shares of Palantir Technologies by 3.0% during the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after purchasing an additional 84 shares during the last quarter. Sovran Advisors LLC increased its holdings in shares of Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after buying an additional 94 shares during the last quarter. Lodestone Wealth Management LLC raised its holdings in shares of Palantir Technologies by 1.1% during the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after buying an additional 97 shares in the last quarter. Continuum Advisory LLC lifted its stake in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after purchasing an additional 98 shares during the last quarter. Finally, Kathmere Capital Management LLC grew its holdings in shares of Palantir Technologies by 0.5% in the first quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after purchasing an additional 99 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the transaction, the director owned 62,887 shares of the company's stock, valued at $8,779,654.07. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David A. Glazer sold 3,418 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total value of $430,565.46. Following the sale, the insider owned 492,079 shares in the company, valued at $61,987,191.63. The trade was a 0.69% decrease in their ownership of the stock. 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. 9.23% of the stock is owned by company insiders.

Palantir Technologies Price Performance

NASDAQ PLTR traded up $6.27 during trading hours on Wednesday, hitting $179.54. The company had a trading volume of 82,519,259 shares, compared to its average volume of 59,825,928. Palantir Technologies Inc. has a fifty-two week low of $26.24 and a fifty-two week high of $180.58. The firm's 50 day moving average is $142.12 and its 200 day moving average is $113.60. The company has a market capitalization of $423.70 billion, a price-to-earnings ratio of 598.49, a P/E/G ratio of 14.08 and a beta of 2.60.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on PLTR. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $116.00 to $135.00 in a research report on Wednesday, July 16th. Bank of America raised their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their target price for the company from $80.00 to $160.00 in a research report on Tuesday. Loop Capital raised their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, DA Davidson set a $170.00 price objective on Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $125.35.

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.