Public Sector Pension Investment Board Trims Stake in Palantir Technologies Inc. $PLTR

Public Sector Pension Investment Board cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 57.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,893 shares of the company’s stock after selling 310,899 shares during the quarter. Public Sector Pension Investment Board’s holdings in Palantir Technologies were worth $31,339,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. FORA Capital LLC boosted its holdings in shares of Palantir Technologies by 4.7% during the 2nd quarter. FORA Capital LLC now owns 113,567 shares of the company’s stock valued at $15,481,000 after buying an additional 5,132 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Palantir Technologies by 17.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 40,702 shares of the company’s stock worth $5,548,000 after acquiring an additional 6,010 shares in the last quarter. Strategic Investment Advisors MI purchased a new position in Palantir Technologies during the 2nd quarter valued at about $288,000. High Falls Advisors Inc bought a new stake in Palantir Technologies during the second quarter worth about $521,000. Finally, Tower Research Capital LLC TRC grew its holdings in Palantir Technologies by 174.8% in the second quarter. Tower Research Capital LLC TRC now owns 244,899 shares of the company’s stock worth $33,385,000 after purchasing an additional 155,794 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 2.1%

PLTR opened at $183.57 on Friday. The stock has a market capitalization of $437.53 billion, a price-to-earnings ratio of 437.08, a PEG ratio of 7.12 and a beta of 1.49. The firm has a 50 day moving average price of $179.31 and a 200-day moving average price of $163.62. Palantir Technologies Inc. has a twelve month low of $63.40 and a twelve month high of $207.52.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLTR. Morgan Stanley raised their price objective on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. CICC Research increased their target price 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 lifted their price target on Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Bank of America upped their price target on shares of Palantir Technologies from $215.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Robert W. Baird raised their price objective on shares of Palantir Technologies from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $172.28.

Insider Activity

In related news, insider Jeffrey Buckley sold 1,252 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $157.50, for a total value of $197,190.00. Following the sale, the insider directly owned 47,044 shares in the company, valued at approximately $7,409,430. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 19,004 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $156.25, for a total value of $2,969,375.00. Following the completion of the sale, the insider directly owned 642,786 shares in the company, valued at approximately $100,435,312.50. The trade was a 2.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,008,844 shares of company stock valued at $164,676,161 in the last three months. 9.23% of the stock is currently owned by insiders.

About Palantir Technologies

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.