Treasurer of the State of North Carolina Boosts Holdings in Palantir Technologies Inc. $PLTR

by · The Markets Daily

Treasurer of the State of North Carolina boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 18.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,178,259 shares of the company’s stock after purchasing an additional 184,670 shares during the quarter. Palantir Technologies comprises about 0.5% of Treasurer of the State of North Carolina’s holdings, making the stock its 26th biggest holding. Treasurer of the State of North Carolina’s holdings in Palantir Technologies were worth $160,620,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Signature Resources Capital Management LLC bought a new stake in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at $27,000. 1248 Management LLC purchased a new stake in Palantir Technologies during the 1st quarter valued at $27,000. Briaud Financial Planning Inc bought a new stake in shares of Palantir Technologies in the 2nd quarter worth $27,000. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Palantir Technologies in the second quarter worth $27,000. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Down 0.2%

PLTR opened at $187.54 on Friday. The company’s 50 day moving average is $179.10 and its 200 day moving average is $162.92. The company has a market cap of $446.99 billion, a price-to-earnings ratio of 446.53, a PEG ratio of 7.28 and a beta of 1.49. Palantir Technologies Inc. has a 12-month low of $63.40 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company’s revenue was up 62.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 15,557 shares of Palantir Technologies stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $2,551,192.43. Following the transaction, the insider owned 415,612 shares of the company’s stock, valued at $68,156,211.88. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 359,325 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $58,925,706.75. Following the completion of the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $1,054,825,989.42. The trade was a 5.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,008,844 shares of company stock worth $164,676,161. 9.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $141.00 to $188.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. HSBC lifted their price target on shares of Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Finally, Citigroup raised their target price on shares of Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $172.28.

Check Out Our Latest Report on PLTR

Palantir Technologies Company Profile

(Free Report)

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.

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