Kentucky Retirement Systems Invests $5.22 Million in Palantir Technologies Inc. (NYSE:PLTR)

Kentucky Retirement Systems acquired a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 140,291 shares of the company’s stock, valued at approximately $5,219,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLTR. Walter & Keenan Wealth Management LLC IN ADV boosted its holdings in shares of Palantir Technologies by 1.2% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after acquiring an additional 235 shares during the period. Greater Midwest Financial Group LLC lifted its position in Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after purchasing an additional 250 shares during the last quarter. Quantum Private Wealth LLC boosted its stake in Palantir Technologies by 1.1% during the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after purchasing an additional 250 shares during the period. LCM Capital Management Inc grew its position in Palantir Technologies by 0.9% in the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after purchasing an additional 300 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV increased its stake in shares of Palantir Technologies by 0.6% in the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 48,347 shares of the company’s stock valued at $1,799,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the sale, the insider now owns 576,023 shares of the company’s stock, valued at $17,666,625.41. This trade represents a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $24,352,627.10. This represents a 6.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,562,840 shares of company stock worth $1,435,787,316 over the last ninety days. 12.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PLTR has been the subject of several analyst reports. Bank of America boosted their price objective on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a research report on Thursday, November 7th. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Northland Securities lifted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Finally, Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average target price of $31.71.

Palantir Technologies Stock Performance

NYSE PLTR opened at $65.77 on Friday. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $66.00. The business’s fifty day moving average is $43.19 and its two-hundred day moving average is $32.01. The stock has a market capitalization of $147.29 billion, a P/E ratio of 328.87 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 earnings per share. On average, research analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.