State of New Jersey Common Pension Fund D Acquires 19,506 Shares of Palantir Technologies Inc. (NYSE:PLTR)

State of New Jersey Common Pension Fund D boosted its stake in shares of Palantir Technologies Inc. (NYSE:PLTR) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,058,678 shares of the company’s stock after purchasing an additional 19,506 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Palantir Technologies were worth $18,178,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC increased its stake in Palantir Technologies by 74.9% in the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after buying an additional 700 shares during the period. Pacifica Partners Inc. purchased a new position in shares of Palantir Technologies during the fourth quarter worth $27,000. GAMMA Investing LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $33,000. Provence Wealth Management Group purchased a new position in Palantir Technologies during the third quarter worth approximately $34,000. Finally, Glass Jacobson Investment Advisors llc purchased a new stake in shares of Palantir Technologies during the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total transaction of $125,500.00. Following the completion of the sale, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the completion of the transaction, the director now directly owns 181,830 shares in the company, valued at approximately $4,563,933. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares in the company, valued at $3,992,120. The disclosure for this sale can be found here. Insiders have sold 7,456,273 shares of company stock worth $184,343,202 over the last ninety days. 13.96% of the stock is owned by insiders.

Palantir Technologies Price Performance

Palantir Technologies stock traded up $0.12 during midday trading on Thursday, hitting $21.71. 26,087,662 shares of the stock were exchanged, compared to its average volume of 63,084,059. The company has a 50 day moving average price of $23.57 and a two-hundred day moving average price of $20.00. The firm has a market cap of $48.04 billion, a P/E ratio of 241.25, a P/E/G ratio of 5.31 and a beta of 2.78. Palantir Technologies Inc. has a 1 year low of $7.28 and a 1 year high of $27.50.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The firm had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. As a group, analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent analyst reports. Monness Crespi & Hardt lowered Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research note on Thursday, March 28th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and increased their price target for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Bank of America boosted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and increased their target price for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Finally, HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a research report on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $18.35.

About Palantir Technologies

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.