Strs Ohio Reduces Position in Palantir Technologies Inc. (NYSE:PLTR)

Strs Ohio lessened its holdings in shares of Palantir Technologies Inc. (NYSE:PLTR) by 14.4% during the 4th quarter, HoldingsChannel reports. The fund owned 43,063 shares of the company’s stock after selling 7,250 shares during the quarter. Strs Ohio’s holdings in Palantir Technologies were worth $739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in shares of Palantir Technologies by 17.1% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 16,750 shares of the company’s stock valued at $288,000 after buying an additional 2,440 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Palantir Technologies by 7.6% in the 4th quarter. Vontobel Holding Ltd. now owns 410,101 shares of the company’s stock worth $7,041,000 after purchasing an additional 29,131 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Palantir Technologies by 8.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock worth $216,183,000 after purchasing an additional 955,992 shares in the last quarter. Simplicity Solutions LLC lifted its stake in Palantir Technologies by 2.8% in the 4th quarter. Simplicity Solutions LLC now owns 54,650 shares of the company’s stock worth $938,000 after purchasing an additional 1,469 shares in the last quarter. Finally, AlphaQ Advisors LLC lifted its stake in Palantir Technologies by 48.3% in the 4th quarter. AlphaQ Advisors LLC now owns 36,685 shares of the company’s stock worth $630,000 after purchasing an additional 11,947 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the transaction, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total value of $851,886.60. Following the completion of the sale, the insider now owns 662,006 shares of the company’s stock, valued at approximately $17,179,055.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now directly owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The disclosure for this sale can be found here. Insiders have sold 7,456,273 shares of company stock worth $184,343,202 in the last three months. Corporate insiders own 13.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PLTR. Wedbush reiterated an “outperform” rating and issued a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Raymond James boosted their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Trading Up 0.6 %

Shares of NYSE:PLTR opened at $21.71 on Friday. The company has a market capitalization of $48.04 billion, a price-to-earnings ratio of 241.25, a PEG ratio of 5.31 and a beta of 2.78. Palantir Technologies Inc. has a 12 month low of $7.28 and a 12 month high of $27.50. The firm’s 50-day moving average is $23.49 and its 200 day moving average is $20.01.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

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.