Retirement Systems of Alabama Sells 3,321 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Retirement Systems of Alabama decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 440,484 shares of the company's stock after selling 3,321 shares during the period. Retirement Systems of Alabama's holdings in Palantir Technologies were worth $37,177,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Geode Capital Management LLC increased its position 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 worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. Northern Trust Corp increased its position 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 worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank acquired a new position in Palantir Technologies during the fourth quarter worth $1,360,191,000. FMR LLC boosted its holdings in Palantir Technologies by 22.6% during the fourth quarter. FMR LLC now owns 15,296,371 shares of the company's stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $137.30 on Friday. The firm has a 50-day moving average of $120.65 and a 200-day moving average of $97.09. The stock has a market cap of $324.02 billion, a PE ratio of 596.96, a P/E/G ratio of 11.95 and a beta of 2.64. Palantir Technologies Inc. has a 52-week low of $21.23 and a 52-week high of $144.86.

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 analysts' consensus estimates of $0.13. The company had revenue of $883.86 million during the quarter, compared to analysts' expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. Palantir Technologies's quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 EPS. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Eric H. Woersching sold 17,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the transaction, the director now directly owns 12,562 shares of the company's stock, valued at approximately $1,624,140.98. This trade represents a 57.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the transaction, the insider now directly owns 702,786 shares in the company, valued at approximately $92,823,974.88. This represents a 36.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,506,925 shares of company stock valued at $188,456,658. 9.23% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on PLTR shares. Morgan Stanley increased their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. DA Davidson increased their target price on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. William Blair set a $84.00 target price on shares of Palantir Technologies in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group increased 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. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies has an average rating of "Hold" and an average price target of $89.32.

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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