California Public Employees Retirement System Purchases 310,428 Shares of Palantir Technologies Inc. $PLTR

California Public Employees Retirement System grew its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 9.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,594,493 shares of the company’s stock after purchasing an additional 310,428 shares during the quarter. California Public Employees Retirement System owned approximately 0.15% of Palantir Technologies worth $490,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Cantor Fitzgerald boosted their price target on Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. CICC Research boosted their target price on shares of Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Wall Street Zen lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Finally, 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 note on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $172.28.

Insider Buying and Selling

In other news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $162.36, for a total value of $5,852,753.28. Following the completion of the transaction, the insider owned 251,409 shares in the company, valued at approximately $40,818,765.24. The trade was a 12.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 359,325 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $58,925,706.75. Following the transaction, the insider directly owned 6,432,258 shares in the company, valued at approximately $1,054,825,989.42. This represents a 5.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,029,844 shares of company stock valued at $168,161,111 in the last quarter. 9.23% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $181.76 on Friday. The stock has a market capitalization of $433.21 billion, a PE ratio of 432.77, a P/E/G ratio of 7.05 and a beta of 1.49. The company’s fifty day moving average is $178.99 and its 200 day moving average is $161.45. Palantir Technologies Inc. has a fifty-two week low of $63.40 and a fifty-two week high of $207.52.

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