Louisiana State Employees Retirement System Purchases 5,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Louisiana State Employees Retirement System increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 274,500 shares of the company's stock after purchasing an additional 5,000 shares during the period. Palantir Technologies accounts for 0.5% of Louisiana State Employees Retirement System's investment portfolio, making the stock its 24th largest position. Louisiana State Employees Retirement System's holdings in Palantir Technologies were worth $23,168,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its holdings in shares of Palantir Technologies by 15.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock valued at $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Pitcairn Co. purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at about $281,000. Sagespring Wealth Partners LLC raised its holdings in shares of Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock valued at $2,030,000 after acquiring an additional 6,405 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at about $52,033,000. Finally, CX Institutional purchased a new stake in shares of Palantir Technologies in the 1st quarter valued at about $62,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Palantir Technologies stock traded down $0.40 during trading hours on Friday, reaching $142.10. The company had a trading volume of 52,005,962 shares, compared to its average volume of 83,326,505. The company has a 50-day moving average price of $130.81 and a 200 day moving average price of $103.81. The firm has a market cap of $335.34 billion, a price-to-earnings ratio of 617.83, a P/E/G ratio of 12.13 and a beta of 2.59. Palantir Technologies Inc. has a 12-month low of $21.23 and a 12-month high of $148.22.

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

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction that occurred 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 in the company, valued at $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric H. Woersching sold 10,214 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the sale, the director owned 2,348 shares in the company, valued at $307,470.60. This represents a 81.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,452,297 shares of company stock valued at $186,222,373 over the last ninety days. Insiders own 9.23% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on PLTR. Daiwa America raised Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Citigroup increased their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Mizuho upped their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a research note on Wednesday, June 11th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $89.32.

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.