State of Alaska Department of Revenue Purchases 6,400 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

State of Alaska Department of Revenue increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 2.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 240,095 shares of the company’s stock after acquiring an additional 6,400 shares during the quarter. State of Alaska Department of Revenue’s holdings in Palantir Technologies were worth $20,264,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLTR. Geode Capital Management LLC raised its holdings in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Northern Trust Corp raised its stake in shares of Palantir Technologies by 20.4% during the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after purchasing an additional 3,299,779 shares during the period. Norges Bank bought a new stake in shares of Palantir Technologies during the 4th quarter valued at $1,360,191,000. FMR LLC lifted its holdings in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $138.20 on Wednesday. The company has a market capitalization of $326.14 billion, a price-to-earnings ratio of 600.87, a PEG ratio of 11.93 and a beta of 2.64. The business has a 50 day moving average of $117.68 and a 200 day moving average of $95.83. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $144.86.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. The firm had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The business’s revenue was up 39.4% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the business’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider now directly owns 702,786 shares of the company’s stock, valued at approximately $92,823,974.88. The trade was a 36.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 358,982 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,506,925 shares of company stock valued at $188,456,658 in the last quarter. Insiders own 12.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PLTR shares. Citigroup increased their price target on shares of Palantir Technologies from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 target price on the stock. Mizuho boosted their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an “underperform” rating in a research report on Wednesday, June 11th. William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. Finally, Loop Capital set a $155.00 price objective on Palantir Technologies and gave the company a “buy” rating in a research note on Thursday, June 12th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $89.32.

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.