California Public Employees Retirement System Purchases 2,423 Shares of Palantir Technologies Inc. (NYSE:PLTR)

California Public Employees Retirement System boosted its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,488,455 shares of the company’s stock after acquiring an additional 2,423 shares during the period. California Public Employees Retirement System owned approximately 0.16% of Palantir Technologies worth $59,897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Qsemble Capital Management LP bought a new position in Palantir Technologies during the 3rd quarter worth about $1,178,000. Trexquant Investment LP bought a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $4,446,000. Victory Capital Management Inc. raised its holdings in shares of Palantir Technologies by 3.9% in the third quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock valued at $10,959,000 after purchasing an additional 25,787 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Palantir Technologies by 10.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after purchasing an additional 116,220 shares in the last quarter. Finally, Korea Investment CORP boosted its holdings in Palantir Technologies by 148.4% during the third quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock worth $3,103,000 after purchasing an additional 115,876 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Mizuho boosted their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Royal Bank of Canada reissued an “underperform” rating and set a $5.00 price target on shares of Palantir Technologies in a research report on Tuesday, February 6th. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Monness Crespi & Hardt cut shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price for the company. in a research note on Thursday, March 28th. Finally, HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a report on Wednesday, February 14th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Stock Up 0.6 %

Shares of Palantir Technologies stock opened at $21.71 on Friday. The stock has a market capitalization of $48.04 billion, a price-to-earnings ratio of 241.25, a price-to-earnings-growth ratio of 5.29 and a beta of 2.78. Palantir Technologies Inc. has a twelve month low of $7.28 and a twelve month high of $27.50. The company has a 50-day simple moving average of $23.49 and a two-hundred day simple moving average of $20.01.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the sale, the insider now directly owns 181,460 shares in the company, valued at $3,992,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the transaction, the director now owns 186,783 shares of the company’s stock, valued at $4,247,445.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares in the company, valued at $3,992,120. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,456,273 shares of company stock worth $184,343,202. Company insiders own 13.96% of the company’s stock.

Palantir Technologies Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.