Illinois Municipal Retirement Fund Raises Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Illinois Municipal Retirement Fund raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,588 shares of the company's stock after purchasing an additional 6,657 shares during the period. Illinois Municipal Retirement Fund's holdings in Palantir Technologies were worth $10,346,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Old North State Wealth Management LLC boosted its holdings in Palantir Technologies by 4.5% in the 1st quarter. Old North State Wealth Management LLC now owns 2,990 shares of the company's stock worth $252,000 after buying an additional 130 shares during the last quarter. Transcend Capital Advisors LLC acquired a new stake in shares of Palantir Technologies in the first quarter worth approximately $388,000. Diversified Trust Co increased its position in shares of Palantir Technologies by 9.7% during the first quarter. Diversified Trust Co now owns 22,891 shares of the company's stock worth $1,932,000 after purchasing an additional 2,026 shares in the last quarter. Alta Wealth Advisors LLC acquired a new position in Palantir Technologies in the 1st quarter valued at $205,000. Finally, Beacon Financial Advisory LLC lifted its holdings in Palantir Technologies by 47.6% in the 1st quarter. Beacon Financial Advisory LLC now owns 6,614 shares of the company's stock valued at $558,000 after purchasing an additional 2,133 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Down 9.4%

PLTR traded down $13.51 on Friday, hitting $130.74. The company had a trading volume of 200,764,922 shares, compared to its average volume of 82,409,392. The company's fifty day moving average price is $125.24 and its 200 day moving average price is $99.62. Palantir Technologies Inc. has a 1 year low of $21.23 and a 1 year high of $148.22. The firm has a market cap of $308.53 billion, a P/E ratio of 568.43, a PEG ratio of 11.16 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted 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. 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%. Palantir Technologies's revenue was up 39.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PLTR shares. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. UBS Group reaffirmed a "positive" rating on shares of Palantir Technologies in a research note on Wednesday. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price on the stock. Wedbush set a $140.00 price target on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald increased their price target on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Five equities 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $89.32.

Insider Transactions at Palantir Technologies

In related news, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the completion of the transaction, the insider now directly owns 495,497 shares of the company's stock, valued at $62,625,865.83. The trade was a 5.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $812,973,088.62. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,506,925 shares of company stock valued at $188,456,658. 9.23% of the stock is currently 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.