3,800 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Acquired by Cobblestone Asset Management LLC

Cobblestone Asset Management LLC bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,800 shares of the company’s stock, valued at approximately $321,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new position in shares of Palantir Technologies in the 4th quarter worth $289,000. Union Bancaire Privee UBP SA acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $15,177,000. Revolve Wealth Partners LLC purchased a new position in Palantir Technologies in the 4th quarter worth about $450,000. Strategic Financial Concepts LLC acquired a new stake in Palantir Technologies during the 4th quarter worth about $245,000. Finally, Mattern Capital Management LLC acquired a new stake in Palantir Technologies during the 4th quarter worth about $345,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $137.30 on Friday. The firm has a market cap of $324.02 billion, a P/E ratio of 596.96, a price-to-earnings-growth ratio of 11.95 and a beta of 2.64. The stock’s 50-day moving average is $120.65 and its two-hundred day moving average is $97.09. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $144.86.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the firm’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider now owns 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Eric H. Woersching sold 17,000 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the completion of the transaction, the director now directly owns 12,562 shares of the company’s stock, valued at approximately $1,624,140.98. This trade represents a 57.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,506,925 shares of company stock worth $188,456,658. 9.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PLTR shares. Citigroup lifted their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Morgan Stanley increased their target price on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Cantor Fitzgerald lifted their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Mizuho raised their price objective on Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a research report on Wednesday, June 11th. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target for the company. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $89.32.

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.