Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 6.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,480 shares of the company's stock after selling 9,580 shares during the quarter. Lazard Asset Management LLC's holdings in Palantir Technologies were worth $11,305,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Capital Investment Advisors LLC lifted its position in Palantir Technologies by 18.4% during the 4th quarter. Capital Investment Advisors LLC now owns 16,263 shares of the company's stock worth $1,230,000 after acquiring an additional 2,526 shares during the period. Cooper Financial Group acquired a new stake in Palantir Technologies during the 4th quarter worth about $206,000. Pallas Capital Advisors LLC lifted its position in Palantir Technologies by 50.5% during the 4th quarter. Pallas Capital Advisors LLC now owns 8,040 shares of the company's stock worth $608,000 after acquiring an additional 2,698 shares during the period. Marcum Wealth LLC acquired a new stake in Palantir Technologies during the 4th quarter worth about $229,000. Finally, PSI Advisors LLC lifted its holdings in shares of Palantir Technologies by 99.7% in the 4th quarter. PSI Advisors LLC now owns 795 shares of the company's stock valued at $60,000 after buying an additional 397 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $48,988. This represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.43, for a total value of $2,772,900.00. Following the completion of the transaction, the insider now owns 702,786 shares in the company, valued at $64,958,509.98. This represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,964,290 shares of company stock worth $250,504,866 over the last ninety days. Corporate insiders own 12.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America boosted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Loop Capital boosted their price objective on Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. UBS Group boosted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Daiwa Capital Markets assumed coverage on Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective for the company. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $83.95.

Palantir Technologies Trading Up 1.6%

NASDAQ:PLTR opened at $130.18 on Thursday. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49. The stock has a 50 day moving average of $96.65 and a two-hundred day moving average of $83.69. The firm has a market cap of $305.32 billion, a P/E ratio of 685.19, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

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

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.

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