State of New Jersey Common Pension Fund D Grows Stock Holdings in Palantir Technologies Inc. $PLTR

Key Points

• The State of New Jersey Common Pension Fund D increased its stake in Palantir Technologies by 1.7% during Q2, bringing its holdings to 721,389 shares valued at $98.34 million.
• Several large investors, including Goldman Sachs and Price T Rowe Associates, have substantially boosted their positions in Palantir Technologies in recent quarters, indicating growing institutional interest.
• Palantir Technologies reported better-than-expected earnings with $0.16 EPS for the latest quarter, surpassing analysts' estimates, and had a revenue of $1 billion, reflecting a 48% year-over-year increase.

State of New Jersey Common Pension Fund D grew its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 721,389 shares of the company's stock after acquiring an additional 11,883 shares during the period. State of New Jersey Common Pension Fund D's holdings in Palantir Technologies were worth $98,340,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PLTR. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Palantir Technologies in the 2nd quarter valued at $2,543,888,000. Nuveen LLC purchased a new stake in shares of Palantir Technologies in the 1st quarter valued at $520,232,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Palantir Technologies by 55.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock valued at $1,126,408,000 after acquiring an additional 4,748,513 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Palantir Technologies by 38.5% in 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 acquiring an additional 4,221,392 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Palantir Technologies by 56.1% in the 1st quarter. Amundi now owns 10,620,301 shares of the company's stock valued at $887,857,000 after acquiring an additional 3,815,386 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PLTR has been the subject of several analyst reports. Wall Street Zen cut shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th. Royal Bank Of Canada boosted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Bank of America boosted their target price on shares of Palantir Technologies from $180.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday, September 23rd. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Finally, Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $141.28.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $184.63 on Friday. The company has a fifty day moving average of $171.35 and a two-hundred day moving average of $146.34. The stock has a market capitalization of $438.01 billion, a PE ratio of 615.45, a P/E/G ratio of 9.78 and a beta of 2.60. Palantir Technologies Inc. has a fifty-two week low of $40.90 and a fifty-two week high of $190.00.

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

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 222,878 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total value of $33,737,042.86. Following the completion of the sale, the insider directly owned 6,432,258 shares in the company, valued at $973,650,893.46. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Glazer sold 81,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the sale, the insider owned 431,169 shares of the company's stock, valued at $66,602,675.43. This trade represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,557,750 shares of company stock valued at $239,713,896 in the last three months. Company insiders own 9.23% of the company's stock.

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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