Public Sector Pension Investment Board Decreases Holdings in Palantir Technologies Inc. $PLTR

Public Sector Pension Investment Board decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 57.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,893 shares of the company’s stock after selling 310,899 shares during the period. Public Sector Pension Investment Board’s holdings in Palantir Technologies were worth $31,339,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PLTR. Signature Resources Capital Management LLC purchased a new stake in Palantir Technologies in the second quarter worth $25,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Palantir Technologies during the first quarter valued at $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 purchased a new position in Palantir Technologies in the 2nd quarter worth about $27,000. Finally, LFA Lugano Financial Advisors SA bought a new stake in Palantir Technologies during the 2nd quarter valued at about $27,000. 45.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Northland Securities boosted their price target on Palantir Technologies from $14.00 to $18.50 in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. CICC Research increased their price target on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Piper Sandler raised their price target on Palantir Technologies from $201.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Finally, HSBC upped their price objective on shares of Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $172.28.

Palantir Technologies Trading Down 2.1%

Shares of PLTR opened at $183.57 on Friday. The firm has a market cap of $437.53 billion, a PE ratio of 437.08, a P/E/G ratio of 7.12 and a beta of 1.49. Palantir Technologies Inc. has a 12 month low of $63.40 and a 12 month high of $207.52. The stock has a fifty day moving average price of $179.31 and a 200-day moving average price of $163.62.

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

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the transaction, the insider owned 251,409 shares in the company, valued at approximately $40,818,765.24. This represents a 12.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 308,635 shares of Palantir Technologies stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total transaction of $50,613,053.65. Following the sale, the insider owned 592 shares of the company’s stock, valued at $97,082.08. The trade was a 99.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,008,844 shares of company stock worth $164,676,161 over the last ninety days. 9.23% of the stock is currently owned by insiders.

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.