Treasurer of the State of North Carolina Grows Stake in Palantir Technologies Inc. $PLTR

Treasurer of the State of North Carolina boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 18.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,178,259 shares of the company’s stock after purchasing an additional 184,670 shares during the quarter. Palantir Technologies makes up approximately 0.5% of Treasurer of the State of North Carolina’s portfolio, making the stock its 26th largest holding. Treasurer of the State of North Carolina’s holdings in Palantir Technologies were worth $160,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Signature Resources Capital Management LLC purchased a new stake in Palantir Technologies in the 2nd quarter worth $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies during the first quarter valued at about $27,000. 1248 Management LLC bought a new stake in shares of Palantir Technologies in the first quarter worth about $27,000. Briaud Financial Planning Inc purchased a new stake in shares of Palantir Technologies in the second quarter worth about $27,000. Finally, LFA Lugano Financial Advisors SA bought a new position in Palantir Technologies during the second quarter valued at approximately $27,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Jeffrey Buckley sold 1,252 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $157.50, for a total transaction of $197,190.00. Following the completion of the sale, the insider directly owned 47,044 shares of the company’s stock, valued at approximately $7,409,430. This trade represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 39,136 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $156.25, for a total value of $6,115,000.00. Following the transaction, the insider owned 592 shares of the company’s stock, valued at approximately $92,500. The trade was a 98.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,008,844 shares of company stock valued at $164,676,161 over the last quarter. Corporate insiders own 9.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Palantir Technologies in a research note on Monday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Daiwa Capital Markets boosted their price target on shares of Palantir Technologies from $178.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. DA Davidson lifted their price objective on shares of Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Finally, Northland Securities upped their target price on shares of Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $172.28.

Palantir Technologies Stock Down 0.2%

NASDAQ PLTR opened at $187.54 on Friday. Palantir Technologies Inc. has a 52 week low of $63.40 and a 52 week high of $207.52. The firm has a market capitalization of $446.99 billion, a price-to-earnings ratio of 446.53, a PEG ratio of 7.28 and a beta of 1.49. The company has a fifty day moving average of $179.10 and a two-hundred day moving average of $162.92.

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

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.