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

Lazard Asset Management LLC trimmed its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.0% during the fourth quarter, Holdings Channel reports. The firm 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 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Laird Norton Wetherby Wealth Management LLC lifted its stake in Palantir Technologies by 12.6% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 17,896 shares of the company’s stock worth $1,353,000 after purchasing an additional 2,007 shares in the last quarter. Lionshead Wealth Management LLC acquired a new position in Palantir Technologies during the fourth quarter worth $1,106,000. Investment Management Corp of Ontario lifted its stake in Palantir Technologies by 53.8% during the fourth quarter. Investment Management Corp of Ontario now owns 103,426 shares of the company’s stock worth $7,822,000 after purchasing an additional 36,175 shares in the last quarter. Investor s Fiduciary Advisor Network LLC acquired a new position in Palantir Technologies during the fourth quarter worth $374,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Palantir Technologies by 120.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 16,583 shares of the company’s stock worth $1,254,000 after purchasing an additional 9,052 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Heather A. Planishek sold 18,537 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the completion of the sale, the insider now owns 493,469 shares in the company, valued at approximately $50,491,748.08. This represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexandra W. Schiff sold 6,776 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the sale, the director now owns 184,617 shares of the company’s stock, valued at $15,993,370.71. This trade represents a 3.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,964,290 shares of company stock valued at $250,504,866. 12.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PLTR. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Morgan Stanley increased their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Royal Bank of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Five equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.95.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $130.18 on Thursday. The firm has a market capitalization of $305.32 billion, a PE ratio of 685.19, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68. The business’s fifty day moving average price is $96.65 and its 200 day moving average price is $83.69. Palantir Technologies Inc. has a 12 month low of $20.63 and a 12 month high of $133.49.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The company had revenue of $883.86 million for 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%. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 earnings per share. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS 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.