New York State Common Retirement Fund Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

New York State Common Retirement Fund reduced its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,052,541 shares of the company’s stock after selling 61,300 shares during the quarter. New York State Common Retirement Fund’s holdings in Palantir Technologies were worth $79,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Roxbury Financial LLC purchased a new stake in Palantir Technologies in the fourth quarter worth $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies in the fourth quarter worth $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares during the period. HighMark Wealth Management LLC boosted its holdings in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares during the period. Finally, Sierra Ocean LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth $31,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 10.1 %

PLTR opened at $112.06 on Thursday. The company has a market cap of $255.27 billion, a P/E ratio of 589.82, a P/E/G ratio of 12.25 and a beta of 2.81. The business’s 50-day moving average price is $84.70 and its 200-day moving average price is $58.51. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

Analysts Set New Price Targets

A number of research firms have recently commented on PLTR. Bank of America raised their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. The Goldman Sachs Group raised their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald raised their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group lifted their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $69.44.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 1,620,395 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total value of $102,425,167.95. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $406,583,028.18. The trade was a 20.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,301,387 shares of company stock worth $575,821,045 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Company Profile

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.