Cobblestone Asset Management LLC Purchases Shares of 3,800 Palantir Technologies Inc. (NASDAQ:PLTR)

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

Other institutional investors have also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at $289,000. Union Bancaire Privee UBP SA bought a new position in shares of Palantir Technologies in the fourth quarter worth about $15,177,000. Revolve Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $450,000. Strategic Financial Concepts LLC bought a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $245,000. Finally, Mattern Capital Management LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $345,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 1.9%

Shares of NASDAQ:PLTR opened at $137.30 on Friday. The firm has a market cap of $324.02 billion, a price-to-earnings ratio of 596.96, a PEG ratio of 11.95 and a beta of 2.64. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $144.86. The company’s fifty day simple moving average is $120.65 and its 200 day simple moving average is $97.09.

Palantir Technologies (NASDAQ:PLTR) 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. The firm had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company’s revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 EPS. Research analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “sell” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Cantor Fitzgerald upped their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. UBS Group lifted their price objective on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Finally, Citigroup boosted their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $89.32.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 98,177 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the sale, the insider now owns 403,171 shares in the company, valued at $33,382,558.80. This trade represents a 19.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider now owns 702,786 shares in the company, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,506,925 shares of company stock worth $188,456,658. 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.