State of New Jersey Common Pension Fund D Purchases 41,199 Shares of Palantir Technologies Inc. (NYSE:PLTR)

State of New Jersey Common Pension Fund D boosted its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 745,549 shares of the company’s stock after buying an additional 41,199 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Palantir Technologies were worth $27,734,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its position in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares during the last quarter. Heritage Wealth Management Inc. CA bought a new position in shares of Palantir Technologies during the 3rd quarter worth about $1,076,000. Cyndeo Wealth Partners LLC acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at about $6,339,000. Seven Grand Managers LLC acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $930,000. Finally, Silvant Capital Management LLC boosted its holdings in Palantir Technologies by 28.2% in the third quarter. Silvant Capital Management LLC now owns 231,543 shares of the company’s stock worth $8,613,000 after acquiring an additional 50,883 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Price Performance

NYSE:PLTR traded up $2.51 on Friday, reaching $58.39. 84,124,034 shares of the company’s stock were exchanged, compared to its average volume of 57,568,527. The stock has a fifty day simple moving average of $40.13 and a 200-day simple moving average of $30.65. Palantir Technologies Inc. has a 52 week low of $15.66 and a 52 week high of $58.48. The firm has a market cap of $130.76 billion, a price-to-earnings ratio of 291.96 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period in the previous year, the business earned $0.03 EPS. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity at Palantir Technologies

In other news, 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 completion of the transaction, the director now directly owns 1,510,630 shares in the company, valued at $46,663,360.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $30.89, for a total value of $617,800.00. Following the transaction, the director now directly owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 14,016 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total transaction of $429,870.72. Following the sale, the insider now owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,482,878 shares of company stock valued at $1,044,202,496. Corporate insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a report on Thursday. Wedbush raised their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Bank of America boosted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Northland Securities raised their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. Finally, Citigroup boosted their price objective on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $31.71.

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.