New York State Teachers Retirement System Acquires 8,667 Shares of Palantir Technologies Inc. $PLTR

Key Points

• New York State Teachers Retirement System increased its Palantir stake by 8,667 shares in the first quarter, bringing its total holdings to 1,845,277 shares worth about $269.9 million.
• Palantir reported strong first-quarter results, with EPS of $0.33 beating estimates and revenue of $1.63 billion topping forecasts; revenue surged 84.7% year over year.
• Despite mixed analyst ratings and some insider selling, sentiment remains broadly constructive, with Palantir carrying a Moderate Buy consensus and a price target of $190.85.

New York State Teachers Retirement System raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 0.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,845,277 shares of the company's stock after purchasing an additional 8,667 shares during the period. Palantir Technologies accounts for about 0.5% of New York State Teachers Retirement System's portfolio, making the stock its 23rd largest position. New York State Teachers Retirement System owned 0.08% of Palantir Technologies worth $269,927,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Basepoint Wealth LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $29,000. Morton Brown Family Wealth LLC raised its stake in Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after buying an additional 125 shares in the last quarter. Cornerstone Financial Management LLC bought a new position in Palantir Technologies in the fourth quarter worth approximately $31,000. United Financial Planning Group LLC bought a new position in Palantir Technologies in the third quarter worth approximately $32,000. Finally, Clayton Financial Group LLC lifted its holdings in Palantir Technologies by 500.0% during the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after buying an additional 150 shares during the period. Institutional investors own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 1,598 shares of the business's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $160.00, for a total transaction of $255,680.00. Following the transaction, the director directly owned 55,022 shares in the company, valued at $8,803,520. The trade was a 2.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey Buckley sold 1,481 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $128.80, for a total value of $190,752.80. Following the transaction, the insider directly owned 60,226 shares in the company, valued at $7,757,108.80. This represents a 2.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 927,270 shares of company stock worth $126,197,785. 9.53% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Up 2.8%

NASDAQ:PLTR opened at $129.30 on Friday. The stock has a market capitalization of $309.97 billion, a price-to-earnings ratio of 145.28, a PEG ratio of 2.02 and a beta of 1.56. Palantir Technologies Inc. has a 52 week low of $106.37 and a 52 week high of $207.52. The firm has a 50 day moving average of $134.09 and a 200 day moving average of $148.44.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business's revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 earnings per share. As a group, analysts expect that Palantir Technologies Inc. will post 1.16 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on PLTR. Weiss Ratings cut Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, April 27th. Mizuho reduced their price target on Palantir Technologies from $195.00 to $185.00 and set an "outperform" rating for the company in a research report on Tuesday, April 14th. UBS Group upgraded Palantir Technologies from a "buy" rating to a "buy" rating in a research note on Tuesday, June 16th. Oppenheimer assumed coverage on Palantir Technologies in a research report on Thursday, April 30th. They set an "outperform" rating and a $200.00 price objective on the stock. Finally, Benchmark lowered Palantir Technologies to a "hold" rating in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $190.85.

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: D.A. Davidson upgraded Palantir to Buy from Neutral and raised its price target to $175, saying the company’s AI orchestration platform is becoming more valuable as enterprises want flexibility in deploying models. Palantir Stock Jumps After DA Davidson Upgrades to Buy
• Positive Sentiment: Investors are also encouraged by Palantir’s new partnership with Nvidia to build sovereign AI solutions for U.S. government agencies, which strengthens the company’s positioning in secure, high-value AI deployments. How Palantir’s Partnership With Nvidia Ended Its Brutal Losing Streak
• Positive Sentiment: Several commentaries highlighted accelerating revenue growth, expanding profitability, and a stronger “Rule of 40,” suggesting Palantir’s fundamentals are still improving even after a sharp pullback. Palantir's Surging Rule of 40 Highlights Excellent AI-Driven Execution
• Neutral Sentiment: CEO Alex Karp used recent interviews to argue that enterprise AI pricing models from OpenAI and Anthropic are flawed and that Palantir’s approach gives customers better control over data and intellectual property. The comments support Palantir’s long-term thesis, but they do not change near-term financial results. Palantir CEO Has a Stark Message for OpenAI and Anthropic
• Neutral Sentiment: Other articles noted that Palantir still trades at a premium valuation, so while sentiment has improved, the stock may remain volatile if investors shift back toward concerns about price versus growth. Is Palantir's Valuation Finally Catching up to Its Growth?

About Palantir Technologies

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

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