Public Sector Pension Investment Board Buys Shares of 86,215 Palantir Technologies Inc. (NYSE:PLTR)

Public Sector Pension Investment Board purchased a new position in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 86,215 shares of the company’s stock, valued at approximately $3,207,000.

Several other hedge funds have also recently modified their holdings of PLTR. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares during the period. ARK Investment Management LLC raised its holdings in Palantir Technologies by 2.2% during the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after purchasing an additional 277,623 shares in the last quarter. FMR LLC lifted its position in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Palantir Technologies by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after purchasing an additional 167,030 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 6.9 %

NYSE PLTR opened at $70.96 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $71.37. The business has a fifty day moving average of $50.11 and a 200-day moving average of $35.72. The stock has a market cap of $161.65 billion, a price-to-earnings ratio of 354.82, a price-to-earnings-growth ratio of 8.98 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the previous year, the company posted $0.03 EPS. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,050 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $33.19, for a total transaction of $200,799.50. Following the completion of the sale, the director now directly owns 158,280 shares in the company, valued at $5,253,313.20. This represents a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,423,181 shares of company stock worth $1,972,588,658. 12.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. The Goldman Sachs Group raised their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. DA Davidson boosted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Jefferies Financial Group cut shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Thursday, November 7th. Monness Crespi & Hardt reduced their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Finally, Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $35.64.

Palantir Technologies 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.