Palantir Technologies Inc. (NASDAQ:PLTR) Stake Reduced by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 6.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 108,185 shares of the company’s stock after selling 6,924 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Palantir Technologies were worth $8,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLTR. OneDigital Investment Advisors LLC grew its position in Palantir Technologies by 3.0% in the third quarter. OneDigital Investment Advisors LLC now owns 34,146 shares of the company’s stock worth $1,270,000 after buying an additional 998 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Palantir Technologies by 156.3% in the 3rd quarter. Empowered Funds LLC now owns 73,095 shares of the company’s stock worth $2,719,000 after acquiring an additional 44,571 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Palantir Technologies by 406.7% during the third quarter. Natixis Advisors LLC now owns 54,742 shares of the company’s stock worth $2,036,000 after purchasing an additional 43,938 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Palantir Technologies by 73.8% during the third quarter. Thrivent Financial for Lutherans now owns 91,656 shares of the company’s stock valued at $3,409,000 after purchasing an additional 38,924 shares during the last quarter. Finally, GLOBALT Investments LLC GA increased its stake in Palantir Technologies by 3.2% in the 3rd quarter. GLOBALT Investments LLC GA now owns 34,240 shares of the company’s stock worth $1,274,000 after purchasing an additional 1,071 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares in the company, valued at $4,740,584.31. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the sale, the insider now owns 592 shares of the company’s stock, valued at $50,497.60. This trade represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,069,785 shares of company stock valued at $254,537,238. Insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PLTR. UBS Group raised their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group lifted their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Citigroup increased their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Wedbush reissued an “outperform” rating and set a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. Finally, Northland Securities raised their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $74.45.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $83.89 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The business has a 50-day moving average of $88.34 and a two-hundred day moving average of $66.23. The stock has a market capitalization of $196.75 billion, a P/E ratio of 441.55, a P/E/G ratio of 10.84 and a beta of 2.81.

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.