Arizona State Retirement System Increases Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Arizona State Retirement System raised its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 588,806 shares of the company’s stock after buying an additional 8,256 shares during the period. Arizona State Retirement System’s holdings in Palantir Technologies were worth $44,531,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PLTR. Verdence Capital Advisors LLC lifted its stake in shares of Palantir Technologies by 49.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 16,726 shares of the company’s stock worth $1,265,000 after purchasing an additional 5,551 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Palantir Technologies during the 4th quarter worth $522,000. SPC Financial Inc. bought a new stake in shares of Palantir Technologies during the 4th quarter valued at $211,000. M&T Bank Corp increased its stake in shares of Palantir Technologies by 18.4% in the 4th quarter. M&T Bank Corp now owns 201,305 shares of the company’s stock worth $15,225,000 after purchasing an additional 31,262 shares in the last quarter. Finally, Atria Investments Inc raised its holdings in Palantir Technologies by 16.3% in the 4th quarter. Atria Investments Inc now owns 63,954 shares of the company’s stock worth $4,837,000 after purchasing an additional 8,940 shares during the period. Institutional investors own 45.65% of the company’s stock.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the completion of the sale, the director now directly owns 100,923 shares of the company’s stock, valued at $7,748,867.94. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $43,908.64. This trade represents a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,439,783 shares of company stock valued at $107,497,043. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Trading Up 1.2 %

Shares of PLTR opened at $84.40 on Wednesday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41. The company has a market cap of $192.26 billion, a P/E ratio of 444.23, a P/E/G ratio of 10.84 and a beta of 2.81. The company’s fifty day simple moving average is $87.18 and its 200-day simple moving average is $62.60.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wedbush restated an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a research report on Monday. Cantor Fitzgerald increased their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. DA Davidson lifted their price target on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Mizuho increased their target price on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.79.

About Palantir Technologies

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.