Louisiana State Employees Retirement System Acquires 5,000 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Louisiana State Employees Retirement System increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 274,500 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Palantir Technologies makes up about 0.5% of Louisiana State Employees Retirement System’s holdings, making the stock its 24th biggest position. Louisiana State Employees Retirement System’s holdings in Palantir Technologies were worth $23,168,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Northern Trust Corp boosted its stake in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the fourth quarter worth $1,360,191,000. FMR LLC grew its holdings in Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares during the period. Finally, Invesco Ltd. increased its stake in Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PLTR. Morgan Stanley increased their price objective on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group upped their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Mizuho boosted their price objective on Palantir Technologies from $94.00 to $116.00 and gave the company an “underperform” rating in a report on Wednesday, June 11th. Finally, Loop Capital set a $155.00 target price on Palantir Technologies and gave the stock a “buy” rating in a report on Thursday, June 12th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $89.32.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $142.10 on Friday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22. The firm’s 50-day simple moving average is $130.81 and its 200 day simple moving average is $103.81. The stock has a market cap of $335.34 billion, a PE ratio of 617.83, a price-to-earnings-growth ratio of 12.13 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company’s quarterly revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 EPS. As a group, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 33,335 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total value of $4,510,558.85. Following the transaction, the insider owned 363,755 shares of the company’s stock, valued at approximately $49,219,689.05. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the sale, the director directly owned 62,887 shares of the company’s stock, valued at approximately $8,779,654.07. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,452,297 shares of company stock valued at $186,222,373 in the last ninety days. 9.23% of the stock is owned by corporate insiders.

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.