New York State Teachers Retirement System Grows Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

New York State Teachers Retirement System increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,680,436 shares of the company's stock after purchasing an additional 83,225 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Palantir Technologies worth $141,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank bought a new position in shares of Palantir Technologies during the fourth quarter valued at $1,360,191,000. FMR LLC lifted its holdings in shares of Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. DA Davidson upped their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. UBS Group reissued a "positive" rating on shares of Palantir Technologies in a report on Wednesday. Mizuho increased their target price on Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. Finally, Loop Capital set a $155.00 target price on Palantir Technologies and gave the company a "buy" rating in a report on Thursday, June 12th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $89.32.

Palantir Technologies Stock Down 9.4%

Shares of PLTR opened at $130.74 on Monday. The business has a 50-day simple moving average of $125.24 and a two-hundred day simple moving average of $99.81. The stock has a market cap of $308.53 billion, a price-to-earnings ratio of 568.43, a PEG ratio of 11.16 and a beta of 2.64. Palantir Technologies Inc. has a 52 week low of $21.23 and a 52 week high of $148.22.

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 the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The firm had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. During the same quarter last year, the business posted $0.08 earnings per share. The firm's revenue was up 39.4% on a year-over-year basis. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at $812,973,088.62. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider now owns 702,786 shares of the company's stock, valued at $92,823,974.88. This represents a 36.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,408,748 shares of company stock worth $180,327,603. 12.93% of the stock is owned by corporate insiders.

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.

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