Public Employees Retirement Association of Colorado Sells 5,954 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Public Employees Retirement Association of Colorado reduced its position in Palantir Technologies Inc. (NYSE:PLTR) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,070 shares of the company’s stock after selling 5,954 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Palantir Technologies were worth $4,604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Halpern Financial Inc. raised its holdings in shares of Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after acquiring an additional 440 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in Palantir Technologies by 16.9% in the first quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock worth $74,000 after purchasing an additional 463 shares in the last quarter. Principle Wealth Partners LLC raised its holdings in Palantir Technologies by 4.8% in the first quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock worth $241,000 after purchasing an additional 481 shares in the last quarter. GSB Wealth Management LLC raised its holdings in Palantir Technologies by 4.6% in the first quarter. GSB Wealth Management LLC now owns 13,475 shares of the company’s stock worth $310,000 after purchasing an additional 595 shares in the last quarter. Finally, West Paces Advisors Inc. raised its holdings in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the sale, the director now owns 64,520,599 shares in the company, valued at approximately $1,376,224,376.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Heather A. Planishek sold 2,398 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the transaction, the insider now directly owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Thiel sold 6,285,833 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,467,179 shares of company stock worth $242,726,313. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Performance

NYSE PLTR traded down $0.19 during trading hours on Monday, reaching $26.99. The stock had a trading volume of 21,307,480 shares, compared to its average volume of 54,955,359. The stock has a fifty day moving average of $24.86 and a 200 day moving average of $22.99. The stock has a market cap of $60.10 billion, a P/E ratio of 226.94, a price-to-earnings-growth ratio of 6.28 and a beta of 2.71. Palantir Technologies Inc. has a 52-week low of $13.68 and a 52-week high of $29.83.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The firm had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLTR. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday. Wedbush reiterated an “outperform” rating and issued a $35.00 target price on shares of Palantir Technologies in a report on Monday, May 6th. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price for the company. in a report on Friday, June 21st. Citigroup boosted their target price on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a report on Tuesday, May 7th. Seven investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.75.

Palantir Technologies Company 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.