Kentucky Retirement Systems Raises Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Kentucky Retirement Systems grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 140,604 shares of the company's stock after buying an additional 2,219 shares during the period. Kentucky Retirement Systems' holdings in Palantir Technologies were worth $11,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PLTR. Continuum Advisory LLC raised its holdings in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after purchasing an additional 98 shares in the last quarter. Heritage Wealth Management Inc. CA raised its holdings in shares of Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock valued at $2,195,000 after purchasing an additional 111 shares in the last quarter. True Wealth Design LLC grew its position in shares of Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company's stock worth $38,000 after buying an additional 114 shares during the last quarter. Gemmer Asset Management LLC grew its position in shares of Palantir Technologies by 1.6% in the 1st quarter. Gemmer Asset Management LLC now owns 7,567 shares of the company's stock worth $639,000 after buying an additional 119 shares during the last quarter. Finally, Synergy Asset Management LLC grew its position in shares of Palantir Technologies by 1.7% in the 1st quarter. Synergy Asset Management LLC now owns 7,017 shares of the company's stock worth $592,000 after buying an additional 120 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PLTR shares. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. UBS Group lifted their price objective on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Citigroup lifted their price objective on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $89.32.

Palantir Technologies Trading Down 1.9%

NASDAQ:PLTR opened at $137.30 on Friday. The company has a market cap of $324.02 billion, a PE ratio of 596.96, a P/E/G ratio of 11.72 and a beta of 2.64. Palantir Technologies Inc. has a twelve month low of $21.23 and a twelve month high of $144.86. The company's 50 day moving average is $120.65 and its two-hundred day moving average is $97.28.

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

Insider Activity

In other news, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares of the company's stock, valued at $33,382,558.80. This represents a 19.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 now directly owns 702,786 shares in the company, valued at $92,823,974.88. This trade represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,506,925 shares of company stock valued at $188,456,658 in the last ninety days. Insiders own 9.23% of the company's stock.

Palantir Technologies Company 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.

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