Arthur M. Cohen & Associates LLC Buys 3,530 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Arthur M. Cohen & Associates LLC boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 25.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,438 shares of the company’s stock after purchasing an additional 3,530 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in Palantir Technologies were worth $1,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings 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 acquiring an additional 4,127,306 shares during the period. Northern Trust Corp boosted its position in Palantir Technologies by 20.4% in the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares during the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies during the 4th quarter valued at about $1,360,191,000. FMR LLC increased its position in shares of Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 39,825 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $5,016,755.25. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $810,271,540.26. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now owns 61,339 shares of the company’s stock, valued at $4,983,793.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,894,925 shares of company stock worth $369,820,528. 9.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. Wedbush set a $140.00 target price on shares of Palantir Technologies and gave the company an “outperform” rating in a report on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a “hold” rating in a report on Tuesday, April 1st. William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Cantor Fitzgerald upped their price target on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley lifted their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.95.

Palantir Technologies Trading Down 2.4%

PLTR stock opened at $130.01 on Thursday. The stock has a market cap of $306.81 billion, a PE ratio of 684.30, a P/E/G ratio of 10.84 and a beta of 2.64. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $135.28. The company has a 50-day moving average price of $108.44 and a 200 day moving average price of $91.31.

Palantir Technologies (NASDAQ:PLTR) last announced its 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 return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was up 39.4% compared to the same quarter last year. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.