Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by New York State Common Retirement Fund

by · The Markets Daily

New York State Common Retirement Fund decreased its stake in shares of Palantir Technologies Inc. (NYSE:PLTR – Free Report) by 17.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,113,841 shares of the company’s stock after selling 231,600 shares during the period. New York State Common Retirement Fund’s holdings in Palantir Technologies were worth $41,435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Palantir Technologies in the 2nd quarter worth $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies during the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the second quarter worth about $30,000. Finally, Beacon Capital Management LLC raised its holdings in shares of Palantir Technologies by 269.5% in the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 0.9 %

Shares of NYSE:PLTR opened at $41.92 on Friday. The firm’s 50 day moving average is $37.98 and its two-hundred day moving average is $29.55. The firm has a market capitalization of $93.88 billion, a P/E ratio of 246.60 and a beta of 2.70. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $45.14.

Palantir Technologies (NYSE:PLTR – Get Free Report) last announced its earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the prior year, the company earned $0.01 EPS. The business’s quarterly revenue was up 27.2% on a year-over-year basis. Analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research analyst reports. Monness Crespi & Hardt dropped their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Northland Securities started coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price on the stock. Mizuho increased their price target on Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group boosted their price objective on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.86.

View Our Latest Analysis on PLTR

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the transaction, the insider now owns 372,565 shares in the company, valued at approximately $11,180,675.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the completion of the transaction, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total transaction of $617,800.00. Following the sale, the director now directly owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,204,508 shares of company stock valued at $802,654,666 over the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Company Profile

(Free Report)

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.

See Also

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