Retirement Systems of Alabama Grows Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Retirement Systems of Alabama raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 443,805 shares of the company’s stock after buying an additional 3,687 shares during the period. Retirement Systems of Alabama’s holdings in Palantir Technologies were worth $33,565,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PLTR. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies during the 3rd quarter worth $25,000. Prestige Wealth Management Group LLC grew its stake in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares in the last quarter. First PREMIER Bank acquired a new position in Palantir Technologies during the 4th quarter worth $28,000. Wolff Wiese Magana LLC grew its stake in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Palantir Technologies during the 4th quarter worth $33,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Down 2.4 %

PLTR opened at $101.36 on Thursday. The business has a 50 day moving average price of $74.85 and a two-hundred day moving average price of $51.92. The company has a market cap of $230.90 billion, a PE ratio of 506.83, a P/E/G ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $19.76 and a 52 week high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the transaction, the director now owns 121,390 shares in the company, valued at $7,047,903.40. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,653,753 shares of company stock valued at $1,039,407,675 in the last ninety days. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Bank of America upped their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Citigroup upped their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $69.44.

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.