Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,000 shares of the company’s stock after selling 1,900 shares during the period. New Mexico Educational Retirement Board’s holdings in Palantir Technologies were worth $7,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. State Street Corp raised its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its position in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. International Assets Investment Management LLC raised its position in Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after acquiring an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. raised its position in Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. Finally, Lord Abbett & CO. LLC raised its position in Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Northland Securities upped their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. UBS Group upped their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Citigroup upped their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $69.44.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,346,976 shares of company stock valued at $642,660,729. 12.93% of the stock is owned by company insiders.

Palantir Technologies Trading Up 1.1 %

Shares of PLTR opened at $119.16 on Friday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $120.67. The firm has a 50-day moving average price of $81.90 and a 200 day moving average price of $56.35. The firm has a market capitalization of $271.45 billion, a P/E ratio of 627.19, a P/E/G ratio of 11.44 and a beta of 2.81.

Palantir Technologies Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.