New York State Teachers Retirement System Increases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

New York State Teachers Retirement System grew its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 3.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,597,211 shares of the company’s stock after acquiring an additional 49,829 shares during the quarter. New York State Teachers Retirement System’s holdings in Palantir Technologies were worth $120,797,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp raised its position in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its position in shares of 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 buying an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 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 buying an additional 808,444 shares in the last quarter. FMR LLC raised its position in shares of Palantir Technologies by 8.8% during the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Palantir Technologies by 60.5% during the 3rd 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 in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of recent analyst reports. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Royal Bank of Canada increased their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Mizuho increased their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group increased their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $69.44.

Insider Activity

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 38,093 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $405,296,576.58. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,346,976 shares of company stock worth $642,660,729. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $117.91 on Friday. The firm’s 50 day moving average price is $80.12 and its 200-day moving average price is $55.28. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $118.66. The company has a market cap of $268.60 billion, a PE ratio of 620.61, a P/E/G ratio of 11.44 and a beta of 2.81.

About Palantir Technologies

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.