Strs Ohio Sells 7,250 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Strs Ohio cut its holdings in Palantir Technologies Inc. (NYSE:PLTR) by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,063 shares of the company’s stock after selling 7,250 shares during the period. Strs Ohio’s holdings in Palantir Technologies were worth $739,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Qsemble Capital Management LP bought a new position in shares of Palantir Technologies in the third quarter valued at approximately $1,178,000. Trexquant Investment LP purchased a new position in Palantir Technologies in the third quarter valued at approximately $4,446,000. Victory Capital Management Inc. lifted its stake in Palantir Technologies by 3.9% in the third quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock valued at $10,959,000 after purchasing an additional 25,787 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Palantir Technologies by 10.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after purchasing an additional 116,220 shares during the last quarter. Finally, Korea Investment CORP lifted its stake in Palantir Technologies by 148.4% in the third quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock valued at $3,103,000 after purchasing an additional 115,876 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Insider Activity at Palantir Technologies

In related news, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now owns 181,830 shares of the company’s stock, valued at $4,563,933. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction 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 transaction, the insider now directly owns 662,006 shares in the company, valued at approximately $17,179,055.70. The disclosure for this sale can be found here. Insiders have sold a total of 7,456,273 shares of company stock valued at $184,343,202 over the last 90 days. 13.96% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PLTR. Royal Bank of Canada reiterated an “underperform” rating and issued a $5.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 6th. Mizuho upped their price objective on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a research report on Wednesday, February 14th. Bank of America increased their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and increased their target price for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $21.71 on Friday. The stock has a market cap of $48.04 billion, a P/E ratio of 241.25, a PEG ratio of 5.31 and a beta of 2.78. Palantir Technologies Inc. has a fifty-two week low of $7.28 and a fifty-two week high of $27.50. The firm’s fifty day moving average price is $23.49 and its 200-day moving average price is $20.01.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm 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%. Sell-side analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current 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.