Public Sector Pension Investment Board Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

Public Sector Pension Investment Board purchased a new stake in Palantir Technologies Inc. (NYSE:PLTR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 86,215 shares of the company’s stock, valued at approximately $3,207,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLTR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Palantir Technologies by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,188,114 shares of the company’s stock worth $378,998,000 after purchasing an additional 391,675 shares during the last quarter. Fiduciary Trust Co increased its position in shares of Palantir Technologies by 134.1% during the third quarter. Fiduciary Trust Co now owns 44,617 shares of the company’s stock valued at $1,660,000 after acquiring an additional 25,556 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Palantir Technologies by 4.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 459,494 shares of the company’s stock valued at $17,093,000 after acquiring an additional 19,036 shares during the period. FORA Capital LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter worth approximately $13,379,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Palantir Technologies by 375.6% in the 3rd quarter. MetLife Investment Management LLC now owns 615,205 shares of the company’s stock worth $22,886,000 after acquiring an additional 485,860 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.74, for a total value of $674,800.00. Following the completion of the sale, the insider now owns 576,023 shares in the company, valued at approximately $19,435,016.02. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,050 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $33.19, for a total transaction of $200,799.50. Following the transaction, the director now owns 158,280 shares in the company, valued at approximately $5,253,313.20. This trade represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,423,181 shares of company stock worth $1,972,588,658 over the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PLTR. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Northland Securities increased their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. DA Davidson lifted their target price on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research note on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.64.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $70.96 on Wednesday. The stock’s fifty day moving average is $50.11 and its two-hundred day moving average is $35.72. The stock has a market cap of $161.65 billion, a PE ratio of 354.82, a P/E/G ratio of 8.98 and a beta of 2.87. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $71.37.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. On average, research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Palantir Technologies Profile

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.