Palantir Technologies Inc. $PLTR Stock Position Increased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 13.1% during the 3rd quarter, Holdings Channel reports. The fund owned 135,541 shares of the company’s stock after purchasing an additional 15,733 shares during the period. Maryland State Retirement & Pension System’s holdings in Palantir Technologies were worth $25,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in shares of Palantir Technologies in the first quarter worth $1,574,111,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Palantir Technologies by 277.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 10,446,959 shares of the company’s stock valued at $1,528,143,000 after purchasing an additional 7,678,747 shares during the period. Bank of America Corp DE raised its stake in shares of Palantir Technologies by 28.7% during the first quarter. Bank of America Corp DE now owns 18,839,779 shares of the company’s stock valued at $2,755,883,000 after purchasing an additional 4,201,852 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Palantir Technologies by 795.6% during the first quarter. Janus Henderson Group PLC now owns 3,323,141 shares of the company’s stock valued at $480,247,000 after purchasing an additional 2,952,079 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Palantir Technologies by 2.8% during the second quarter. State Street Corp now owns 104,490,468 shares of the company’s stock valued at $12,190,903,000 after purchasing an additional 2,863,874 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. DA Davidson reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Palantir Technologies in a report on Tuesday, November 3rd. JPMorgan Chase & Co. started coverage on shares of Palantir Technologies in a research note on Thursday, October 29th. They set an “overweight” rating and a $262.00 target price on the stock. KeyCorp restated a “sector weight” rating on shares of Palantir Technologies in a research report on Wednesday, November 4th. Northland Securities set a $200.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 4th. Finally, Barclays upped their price target on shares of Palantir Technologies from $265.00 to $273.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $216.76.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,250 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $174.29, for a total value of $217,862.50. Following the completion of the sale, the insider directly owned 56,921 shares of the company’s stock, valued at approximately $9,920,761.09. This represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eric Woersching sold 1,000 shares of the company’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $205.00, for a total transaction of $205,000.00. Following the completion of the sale, the director directly owned 3,465 shares of the company’s stock, valued at $710,325. The trade was a 22.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 523,716 shares of company stock valued at $92,212,379 in the last quarter. 9.53% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

PLTR opened at $172.40 on Thursday. Palantir Technologies Inc. has a one year low of $106.37 and a one year high of $212.94. The stock’s fifty day moving average is $185.04 and its 200-day moving average is $153.79. The company has a market capitalization of $414.29 billion, a PE ratio of 120.56, a P/E/G ratio of 3.41 and a beta of 1.65.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 2nd. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. Palantir Technologies had a return on equity of 30.49% and a net margin of 50.34%. The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The company’s revenue was up 95.9% on a year-over-year basis. On average, equities research analysts forecast that Palantir Technologies Inc. will post 1.36 EPS for the current fiscal year.

Key Headlines Impacting Palantir Technologies

Investors following PLTR have been watching these headlines:

• Positive Sentiment: Palantir reported a strong third quarter, with revenue up 95.9% year over year to $2.31 billion and earnings per share of $0.44, ahead of analyst estimates. Its expanding sovereign-AI deployments across defense and other industries could support future recurring revenue, although announced deployments did not include contract values. Palantir stock slips despite strong AI revenue Palantir Stock: The 1 Number That Could Fuel Its Next Rally
• Neutral Sentiment: CEO Alex Karp described Palantir’s products as “essentially progressive” and said he has long been a Democrat. The comments may shape public perception but do not indicate a change in business performance. Alex Karp says Palantir’s products are essentially progressive
• Negative Sentiment: Investors are focused on a sharp slowdown in contract momentum: total contract value reportedly grew 6% year over year, versus 49% in the prior quarter, while U.S. commercial contract value fell sequentially. This raises questions about whether strong revenue growth can continue. Palantir stock falls as Wall Street spots a warning

Palantir Technologies Profile

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.