Public Employees Retirement System of Ohio Increases Stock Position in Palantir Technologies Inc. $PLTR

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Palantir Technologies by 23.3% during the second quarter, owning a total of 908,712 shares worth approximately $123.9 million.
• Palantir Technologies reported a net margin of 22.18% and quarterly revenue of $1 billion, surpassing analyst estimates significantly.
• Wall Street analysts have mixed ratings on Palantir, with a consensus rating of "Hold" and target prices ranging from $140.22 to $200.00.

Public Employees Retirement System of Ohio lifted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 23.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 908,712 shares of the company's stock after buying an additional 171,441 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Palantir Technologies were worth $123,876,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Northern Trust Corp lifted its stake in shares of Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after buying an additional 64,973 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at approximately $2,543,888,000. Invesco Ltd. lifted its stake in shares of Palantir Technologies by 20.3% during the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock valued at $1,497,843,000 after buying an additional 2,998,716 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Palantir Technologies by 38.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock valued at $1,281,205,000 after buying an additional 4,221,392 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Palantir Technologies by 4.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,614,399 shares of the company's stock valued at $1,149,055,000 after buying an additional 571,544 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PLTR. Wall Street Zen cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Citigroup reiterated a "neutral" rating and issued a $177.00 target price (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Finally, UBS Group reiterated a "neutral" rating and issued a $165.00 target price (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $140.22.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $158.35, for a total value of $5,708,200.80. Following the sale, the insider owned 307,470 shares of the company's stock, valued at $48,687,874.50. This trade represents a 10.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,000 shares of the firm's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $177.60, for a total transaction of $1,598,400.00. Following the completion of the sale, the director directly owned 50,794 shares in the company, valued at approximately $9,021,014.40. This trade represents a 15.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,634,634 shares of company stock worth $250,524,804. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

PLTR stock opened at $182.55 on Wednesday. Palantir Technologies Inc. has a 52 week low of $36.05 and a 52 week high of $190.00. The firm's fifty day moving average is $164.60 and its 200 day moving average is $131.56. The firm has a market cap of $433.07 billion, a P/E ratio of 608.52, a P/E/G ratio of 10.11 and a beta of 2.59.

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

Palantir Technologies Company 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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