State of Alaska Department of Revenue Lowers Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

State of Alaska Department of Revenue lowered its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 36.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,695 shares of the company’s stock after selling 136,930 shares during the period. State of Alaska Department of Revenue’s holdings in Palantir Technologies were worth $17,674,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp raised its position in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC increased its stake in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after purchasing an additional 808,444 shares in the last quarter. FMR LLC raised its holdings in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after buying an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analyst Ratings Changes

PLTR has been the subject of a number of recent analyst reports. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Mizuho increased their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday. Royal Bank of Canada lifted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, UBS Group boosted their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $69.44.

Insiders Place Their Bets

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of Palantir Technologies stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the sale, the director now directly owns 121,390 shares in the company, valued at $7,047,903.40. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,653,753 shares of company stock worth $1,039,407,675 in the last three months. 12.93% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $101.36 on Thursday. The company has a fifty day moving average of $75.56 and a 200 day moving average of $52.26. The company has a market capitalization of $230.90 billion, a P/E ratio of 506.83, a P/E/G ratio of 7.54 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the business posted $0.03 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.