State of Alaska Department of Revenue Decreases Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

State of Alaska Department of Revenue reduced its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 24.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 285,050 shares of the company’s stock after selling 92,315 shares during the quarter. State of Alaska Department of Revenue’s holdings in Palantir Technologies were worth $6,559,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PLTR. West Paces Advisors Inc. raised its stake in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares during the period. Halpern Financial Inc. boosted its position in shares of Palantir Technologies by 44.0% during the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after purchasing an additional 440 shares in the last quarter. Pacifica Partners Inc. bought a new position in Palantir Technologies in the fourth quarter worth $27,000. Finally, First United Bank & Trust purchased a new position in Palantir Technologies during the fourth quarter valued at $26,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PLTR. Mizuho lifted their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday, May 7th. Royal Bank of Canada lifted their price objective on Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, May 7th. Monness Crespi & Hardt cut shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price for the company. in a report on Friday, June 21st. Finally, DA Davidson upped their price target on Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.25.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $25.83 on Thursday. The company has a market cap of $57.52 billion, a P/E ratio of 215.27, a P/E/G ratio of 5.96 and a beta of 2.71. Palantir Technologies Inc. has a 52-week low of $13.68 and a 52-week high of $27.50. The firm’s fifty day moving average is $22.89 and its two-hundred day moving average is $21.68.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The firm had revenue of $634.34 million during the quarter, compared to analyst estimates of $614.88 million. As a group, analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Eric H. Woersching sold 3,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the sale, the director now owns 32,843 shares of the company’s stock, valued at $853,918. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Peter Thiel sold 6,285,833 shares of Palantir Technologies stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now owns 64,520,599 shares in the company, valued at $1,376,224,376.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric H. Woersching sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the sale, the director now directly owns 32,843 shares in the company, valued at $853,918. The disclosure for this sale can be found here. Insiders sold 11,372,153 shares of company stock worth $239,941,245 in the last quarter. 12.93% of the stock is owned by corporate insiders.

About Palantir Technologies

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.