Public Employees Retirement Association of Colorado Has $4.95 Million Stake in Palantir Technologies Inc. (NYSE:PLTR)

Public Employees Retirement Association of Colorado decreased its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 2.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 195,437 shares of the company’s stock after selling 4,633 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Palantir Technologies were worth $4,950,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PLTR. Vanguard Group Inc. boosted its stake in Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. 1832 Asset Management L.P. boosted its stake in Palantir Technologies by 248,208.2% during the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after purchasing an additional 3,623,840 shares during the period. Norges Bank bought a new stake in Palantir Technologies during the 4th quarter valued at approximately $46,542,000. Coatue Management LLC boosted its stake in Palantir Technologies by 285.6% during the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock valued at $59,191,000 after purchasing an additional 2,553,432 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after purchasing an additional 1,980,495 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PLTR shares. Jefferies Financial Group increased their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Wedbush reissued an “outperform” rating and issued a $38.00 target price on shares of Palantir Technologies in a report on Monday, September 9th. Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $26.79.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now directly owns 152,280 shares in the company, valued at $5,535,378. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the transaction, the director now directly owns 29,817 shares in the company, valued at $834,876. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the sale, the director now owns 152,280 shares in the company, valued at $5,535,378. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,383,238 shares of company stock worth $190,231,672. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 1.0 %

NYSE:PLTR opened at $37.20 on Monday. Palantir Technologies Inc. has a 12-month low of $13.68 and a 12-month high of $37.35. The firm has a market capitalization of $83.31 billion, a P/E ratio of 310.03 and a beta of 2.72. The stock’s fifty day simple moving average is $30.57 and its 200-day simple moving average is $25.92.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. 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 business earned $0.01 earnings per share. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

About Palantir Technologies

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.