Arizona State Retirement System Increases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Arizona State Retirement System boosted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 617,653 shares of the company's stock after purchasing an additional 28,847 shares during the period. Arizona State Retirement System's holdings in Palantir Technologies were worth $52,130,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLTR. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $450,000. Assetmark Inc. boosted its holdings in shares of Palantir Technologies by 46.3% in the 4th quarter. Assetmark Inc. now owns 1,191 shares of the company's stock valued at $90,000 after acquiring an additional 377 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $522,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $549,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Palantir Technologies by 78.7% in the 4th quarter. Farther Finance Advisors LLC now owns 22,863 shares of the company's stock valued at $1,729,000 after acquiring an additional 10,071 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Up 4.4%

Shares of Palantir Technologies stock traded up $6.20 during trading hours on Monday, reaching $148.30. 61,116,624 shares of the company's stock were exchanged, compared to its average volume of 83,246,339. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $148.59. The company has a market capitalization of $349.97 billion, a P/E ratio of 645.01, a price-to-earnings-growth ratio of 12.13 and a beta of 2.59. The business has a fifty day moving average of $130.81 and a two-hundred day moving average of $103.96.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. The company's revenue for the quarter was up 39.4% compared to the same quarter last year. As a group, research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 405,000 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider owned 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total transaction of $111,688.00. Following the sale, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,452,297 shares of company stock valued at $186,222,373. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. DA Davidson upped their price objective on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective on the stock. Citigroup boosted their target price on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Wedbush set a $160.00 target price on shares of Palantir Technologies in a research note on Thursday. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $90.37.

About Palantir Technologies

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.