Maryland State Retirement & Pension System Decreases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Maryland State Retirement & Pension System lowered its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,185 shares of the company’s stock after selling 6,924 shares during the period. Maryland State Retirement & Pension System’s holdings in Palantir Technologies were worth $8,182,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Prestige Wealth Management Group LLC lifted its holdings in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares in the last quarter. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC boosted its holdings in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC increased its holdings in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PLTR shares. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Robert W. Baird increased their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. Finally, Loop Capital cut their price objective on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $74.45.

Palantir Technologies Trading Down 4.0 %

NASDAQ PLTR opened at $83.89 on Wednesday. The company has a 50-day moving average price of $88.34 and a two-hundred day moving average price of $66.23. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The stock has a market cap of $196.75 billion, a price-to-earnings ratio of 441.55, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares of the company’s stock, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,069,785 shares of company stock worth $254,537,238. Company insiders own 12.93% of the company’s stock.

Palantir Technologies 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.