Louisiana State Employees Retirement System Acquires 156,100 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Louisiana State Employees Retirement System increased its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 137.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 269,500 shares of the company’s stock after purchasing an additional 156,100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Palantir Technologies were worth $20,382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC increased its stake in shares of Palantir Technologies by 21.4% in the third quarter. Sound Income Strategies LLC now owns 3,481 shares of the company’s stock valued at $130,000 after buying an additional 613 shares during the period. Thomasville National Bank bought a new stake in Palantir Technologies in the third quarter valued at approximately $215,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Palantir Technologies by 46.7% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,200 shares of the company’s stock valued at $82,000 after purchasing an additional 700 shares during the period. ORG Wealth Partners LLC bought a new position in Palantir Technologies during the 3rd quarter worth approximately $65,000. Finally, Sapient Capital LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter worth approximately $206,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of NASDAQ PLTR opened at $112.62 on Wednesday. The stock has a market cap of $256.55 billion, a price-to-earnings ratio of 592.77, a PEG ratio of 11.44 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $118.66. The firm’s 50-day simple moving average is $78.34 and its 200 day simple moving average is $54.24.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PLTR. Citigroup increased their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Cantor Fitzgerald raised their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Wedbush boosted their price target on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. UBS Group increased their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Bank of America lifted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $69.44.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the transaction, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,833,085 shares of company stock worth $924,999,929 over the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

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.