Palantir Technologies Inc. $PLTR Position Increased by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System increased its holdings in Palantir Technologies by 5.8%, now owning approximately $242 million worth of the company's shares.
• Palantir reported a 48% year-over-year revenue growth for the last quarter, achieving $1 billion in revenue and earnings per share of $0.16, surpassing analyst expectations.
• Before recent stock sales, insiders sold a total of 1.56 million shares for roughly $239.7 million over the past 90 days, indicating significant insider activity.

New York State Teachers Retirement System raised its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,777,902 shares of the company's stock after purchasing an additional 97,466 shares during the quarter. Palantir Technologies makes up approximately 0.5% of New York State Teachers Retirement System's holdings, making the stock its 25th biggest position. New York State Teachers Retirement System owned about 0.08% of Palantir Technologies worth $242,364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Ignite Planners LLC increased its stake in Palantir Technologies by 0.4% during the second quarter. Ignite Planners LLC now owns 15,362 shares of the company's stock valued at $2,094,000 after acquiring an additional 66 shares during the period. Christensen King & Associates Investment Services Inc. increased its stake in Palantir Technologies by 1.3% during the second quarter. Christensen King & Associates Investment Services Inc. now owns 5,477 shares of the company's stock valued at $747,000 after acquiring an additional 72 shares during the period. McGlone Suttner Wealth Management Inc. increased its stake in Palantir Technologies by 1.0% during the second quarter. McGlone Suttner Wealth Management Inc. now owns 7,387 shares of the company's stock valued at $1,007,000 after acquiring an additional 73 shares during the period. Boomfish Wealth Group LLC increased its stake in Palantir Technologies by 2.7% during the second quarter. Boomfish Wealth Group LLC now owns 2,779 shares of the company's stock valued at $379,000 after acquiring an additional 73 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its stake in Palantir Technologies by 3.4% during the second quarter. Farmers & Merchants Investments Inc. now owns 2,412 shares of the company's stock valued at $329,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Cantor Fitzgerald boosted their price target on Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. DA Davidson set a $170.00 price target on Palantir Technologies and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Piper Sandler boosted their price target on Palantir Technologies from $182.00 to $201.00 and gave the company an "overweight" rating in a research note on Tuesday. Loop Capital boosted their price target on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group lifted their price objective on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of "Hold" and a consensus target price of $141.28.

Palantir Technologies Trading Down 0.1%

NASDAQ PLTR opened at $179.62 on Thursday. The stock's 50 day moving average is $171.78 and its two-hundred day moving average is $141.58. The company has a market capitalization of $426.12 billion, a price-to-earnings ratio of 598.75, a PEG ratio of 9.72 and a beta of 2.60. Palantir Technologies Inc. has a 1-year low of $40.36 and a 1-year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The company's quarterly revenue was up 48.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 222,878 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $33,737,042.86. Following the transaction, the insider directly owned 6,432,258 shares of the company's stock, valued at $973,650,893.46. The trade was a 3.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 375,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $151.20, for a total value of $56,700,000.00. Following the completion of the transaction, the insider directly owned 702,786 shares in the company, valued at $106,261,243.20. The trade was a 34.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,557,750 shares of company stock worth $239,713,896 over the last ninety days. 9.23% of the stock is owned by insiders.

About Palantir Technologies

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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