State of Alaska Department of Revenue Sells 136,930 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

State of Alaska Department of Revenue decreased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 36.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC grew its holdings in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares in the last quarter. First PREMIER Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC boosted its position in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the period. Finally, R Squared Ltd purchased a new position in Palantir Technologies during the fourth quarter valued at approximately $33,000. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group increased their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday. Northland Securities raised their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday. Wedbush boosted their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group raised their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $69.44.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $101.36 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $106.91. The company has a market capitalization of $230.90 billion, a P/E ratio of 506.83, a PEG ratio of 7.54 and a beta of 2.81. The stock has a 50 day moving average price of $75.56 and a two-hundred day moving average price of $52.26.

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

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies 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 sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the transaction, the director now owns 100,923 shares in the company, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,653,753 shares of company stock valued at $1,039,407,675 in the last 90 days. Insiders own 12.93% of the company’s stock.

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.