New York State Common Retirement Fund Has $79.60 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

New York State Common Retirement Fund trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,052,541 shares of the company's stock after selling 61,300 shares during the period. New York State Common Retirement Fund's holdings in Palantir Technologies were worth $79,604,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLTR. State Street Corp raised its holdings in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company's stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company's stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Palantir Technologies by 3,476.2% during the third quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company's stock worth $254,162,000 after acquiring an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company's stock worth $460,798,000 after acquiring an additional 4,667,955 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company's stock worth $122,788,000 after acquiring an additional 2,984,348 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLTR has been the topic of a number of research analyst reports. William Blair restated an "underperform" rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Mizuho lifted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" 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 four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $73.21.

Palantir Technologies Stock Performance

PLTR traded down $4.67 on Friday, reaching $101.60. The company had a trading volume of 108,537,431 shares, compared to its average volume of 90,210,734. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The stock has a market cap of $231.44 billion, a P/E ratio of 536.35, a P/E/G ratio of 11.52 and a beta of 2.81. The company's fifty day moving average is $85.36 and its 200 day moving average is $58.84.

Insiders Place Their Bets

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares of the company's stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the sale, the insider now directly owns 752,786 shares of the company's stock, valued at approximately $50,128,019.74. This trade represents a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,680,992 shares of company stock worth $473,395,877 in the last quarter. Corporate insiders own 12.93% of the company's stock.

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.