Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 138,385 shares of the company’s stock after selling 1,906 shares during the quarter. Kentucky Retirement Systems’ holdings in Palantir Technologies were worth $10,466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PLTR. State Street Corp raised its stake in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised 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 worth $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC increased its stake in Palantir Technologies by 3,476.2% in the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 60.5% in 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 purchasing an additional 4,667,955 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $50,128,019.74. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,680,992 shares of company stock worth $473,395,877. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Down 5.2 %

PLTR opened at $106.27 on Friday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The company has a 50 day moving average of $85.36 and a two-hundred day moving average of $58.84. The company has a market cap of $242.09 billion, a P/E ratio of 559.35, a P/E/G ratio of 11.52 and a beta of 2.81.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Cantor Fitzgerald lifted their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Bank of America lifted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Robert W. Baird lifted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. UBS Group lifted their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.21.

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.