Kentucky Retirement Systems Decreases Stake in Palantir Technologies Inc. $PLTR

by · The Markets Daily

Kentucky Retirement Systems reduced its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,957 shares of the company’s stock after selling 8,647 shares during the quarter. Palantir Technologies accounts for 0.5% of Kentucky Retirement Systems’ portfolio, making the stock its 27th biggest holding. Kentucky Retirement Systems’ holdings in Palantir Technologies were worth $17,988,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Signature Resources Capital Management LLC bought a new position in Palantir Technologies during the 2nd quarter valued at about $25,000. Briaud Financial Planning Inc bought a new stake in shares of Palantir Technologies in the second quarter worth approximately $27,000. LFA Lugano Financial Advisors SA purchased a new position in shares of Palantir Technologies during the second quarter valued at approximately $27,000. Frazier Financial Advisors LLC bought a new position in Palantir Technologies during the second quarter valued at approximately $28,000. Finally, Delos Wealth Advisors LLC purchased a new stake in Palantir Technologies in the second quarter worth approximately $29,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. Wall Street Zen lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. DA Davidson upped their price objective on Palantir Technologies from $170.00 to $215.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Mizuho increased their target price on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Morgan Stanley raised their target price on Palantir Technologies from $155.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Finally, CICC Research upped their price target on shares of Palantir Technologies from $128.00 to $150.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Four investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $172.28.

Read Our Latest Research Report on Palantir Technologies

Palantir Technologies Stock Down 2.1%

Shares of PLTR opened at $183.57 on Friday. The business has a 50-day simple moving average of $179.31 and a two-hundred day simple moving average of $163.62. Palantir Technologies Inc. has a 52 week low of $63.40 and a 52 week high of $207.52. The stock has a market cap of $437.53 billion, a price-to-earnings ratio of 437.08, a PEG ratio of 7.12 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The firm’s revenue was up 62.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 359,325 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $58,925,706.75. Following the completion of the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $1,054,825,989.42. This represents a 5.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David A. Glazer sold 15,557 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total value of $2,551,192.43. Following the sale, the insider directly owned 415,612 shares in the company, valued at approximately $68,156,211.88. This represents a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,008,844 shares of company stock valued at $164,676,161. Insiders own 9.23% of the company’s stock.

Palantir Technologies Company Profile

(Free Report)

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.

See Also

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