Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by California Public Employees Retirement System

by · The Markets Daily

California Public Employees Retirement System decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,224,073 shares of the company’s stock after selling 91,773 shares during the period. California Public Employees Retirement System owned about 0.14% of Palantir Technologies worth $243,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. 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. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the fourth quarter worth about $28,000. Wolff Wiese Magana LLC increased its stake in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the period. Finally, HighMark Wealth Management LLC raised its holdings in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PLTR. Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Mizuho lifted their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Bank of America increased their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $74.45.

Read Our Latest Analysis on Palantir Technologies

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,379,785 shares of company stock worth $281,528,938. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $85.85 on Monday. The stock has a market cap of $201.35 billion, a P/E ratio of 451.87, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41. The firm has a fifty day moving average price of $91.98 and a 200 day moving average price of $69.53.

Palantir Technologies 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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