State of Alaska Department of Revenue Sells 92,315 Shares of Palantir Technologies Inc. (NYSE:PLTR)

State of Alaska Department of Revenue cut its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 24.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 285,050 shares of the company’s stock after selling 92,315 shares during the quarter. State of Alaska Department of Revenue’s holdings in Palantir Technologies were worth $6,559,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. West Paces Advisors Inc. boosted its position in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares during the period. Halpern Financial Inc. increased its stake in Palantir Technologies by 44.0% during the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after purchasing an additional 440 shares in the last quarter. Pacifica Partners Inc. bought a new stake in shares of Palantir Technologies during the fourth quarter worth $27,000. Finally, First United Bank & Trust acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $26,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PLTR. Monness Crespi & Hardt downgraded Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a report on Friday, June 21st. Citigroup raised their price target on Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Argus began coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price objective on the stock. DA Davidson boosted their price target on Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, Wedbush reissued an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research report on Monday, May 6th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average target price of $21.25.

Insiders Place Their Bets

In other news, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the transaction, the director now owns 32,843 shares in the company, valued at approximately $853,918. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the sale, the director now directly owns 32,843 shares of the company’s stock, valued at approximately $853,918. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Thiel sold 6,285,833 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares of the company’s stock, valued at approximately $1,376,224,376.67. The disclosure for this sale can be found here. Insiders sold 11,372,153 shares of company stock worth $239,941,245 over the last three months. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of NYSE PLTR opened at $25.83 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $27.50. The stock has a market capitalization of $57.52 billion, a PE ratio of 215.27, a P/E/G ratio of 5.96 and a beta of 2.71. The business has a fifty day moving average price of $22.89 and a two-hundred day moving average price of $21.68.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. On average, equities analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Palantir Technologies Company 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.