Kentucky Retirement Systems Insurance Trust Fund Has $7.64 Million Stock Holdings in Palantir Technologies Inc. $PLTR

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 6.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,005 shares of the company’s stock after selling 3,882 shares during the quarter. Palantir Technologies accounts for about 0.5% of Kentucky Retirement Systems Insurance Trust Fund’s investment portfolio, making the stock its 27th largest holding. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Palantir Technologies were worth $7,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Slocum Gordon & Co LLP acquired a new position in shares of Palantir Technologies in the second quarter worth about $41,000. Newbridge Financial Services Group Inc. lifted its position in shares of Palantir Technologies by 36.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 113,208 shares of the company’s stock valued at $15,433,000 after acquiring an additional 30,533 shares in the last quarter. Cape Investment Advisory Inc. boosted its stake in Palantir Technologies by 14.4% in the 2nd quarter. Cape Investment Advisory Inc. now owns 788 shares of the company’s stock worth $107,000 after purchasing an additional 99 shares during the period. Advisory Services Network LLC grew its position in Palantir Technologies by 8.2% during the 2nd quarter. Advisory Services Network LLC now owns 283,720 shares of the company’s stock worth $38,677,000 after purchasing an additional 21,506 shares in the last quarter. Finally, Anchor Investment Management LLC grew its position in Palantir Technologies by 1,296.9% during the 2nd quarter. Anchor Investment Management LLC now owns 6,691 shares of the company’s stock worth $912,000 after purchasing an additional 6,212 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 39,136 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $6,115,000.00. Following the transaction, the insider directly owned 592 shares of the company’s stock, valued at $92,500. This represents a 98.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $162.36, for a total value of $5,852,753.28. Following the completion of the sale, the insider directly owned 251,409 shares of the company’s stock, valued at $40,818,765.24. This represents a 12.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,008,844 shares of company stock valued at $164,676,161 in the last three months. 9.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PLTR. Cantor Fitzgerald raised their target price on Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Piper Sandler raised their price objective on Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Bank of America upped their target price on Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $141.00 to $188.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Finally, Morgan Stanley boosted their price objective on shares of Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $172.28.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $183.57 on Friday. The business has a 50 day simple moving average of $179.31 and a 200 day simple moving average of $163.62. Palantir Technologies Inc. has a 52 week low of $63.40 and a 52 week high of $207.52. The stock has a market cap of $437.53 billion, a price-to-earnings ratio of 437.08, a PEG ratio of 7.12 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company’s revenue was up 62.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. On average, analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.