Kentucky Retirement Systems Lowers Position in Palantir Technologies Inc. $PLTR

Kentucky Retirement Systems decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 131,957 shares of the company’s stock after selling 8,647 shares during the quarter. Palantir Technologies comprises about 0.5% of Kentucky Retirement Systems’ portfolio, making the stock its 27th largest holding. Kentucky Retirement Systems’ holdings in Palantir Technologies were worth $17,988,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Revolve Wealth Partners LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at approximately $450,000. Bison Wealth LLC increased its position in Palantir Technologies by 37.4% in the fourth quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock worth $1,296,000 after purchasing an additional 4,667 shares during the last quarter. Capstone Wealth Management Group LLC increased its position in Palantir Technologies by 38.0% in the first quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock worth $1,447,000 after purchasing an additional 4,722 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Palantir Technologies by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 3,518,805 shares of the company’s stock valued at $297,021,000 after purchasing an additional 122,802 shares in the last quarter. Finally, Ethic Inc. lifted its position in Palantir Technologies by 8.0% during the first quarter. Ethic Inc. now owns 88,972 shares of the company’s stock valued at $7,534,000 after purchasing an additional 6,612 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

PLTR opened at $183.57 on Friday. The stock’s 50 day moving average price is $179.31 and its 200-day moving average price is $163.62. Palantir Technologies Inc. has a one year low of $63.40 and a one year high of $207.52. The stock has a market cap of $437.53 billion, a price-to-earnings ratio of 437.08, a P/E/G ratio of 7.12 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period last year, the company earned $0.10 EPS. Palantir Technologies’s quarterly revenue was up 62.8% compared to the same quarter last year. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 19,004 shares of Palantir Technologies stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the completion of the sale, the insider owned 642,786 shares in the company, valued at $100,435,312.50. This trade represents a 2.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 39,136 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $156.25, for a total transaction of $6,115,000.00. Following the completion of the transaction, the insider owned 592 shares in the company, valued at $92,500. This represents a 98.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,008,844 shares of company stock valued at $164,676,161. 9.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PLTR. Northland Securities boosted their target price on shares of Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. CICC Research boosted their price objective on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. DA Davidson raised their price objective on Palantir Technologies from $170.00 to $215.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. HSBC lifted their target price on Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a report on Wednesday, November 5th. Finally, Jefferies Financial Group restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $172.28.

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.