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

Louisiana State Employees Retirement System increased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 137.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 269,500 shares of the company’s stock after buying an additional 156,100 shares during the period. Louisiana State Employees Retirement System’s holdings in Palantir Technologies were worth $20,382,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Mather Group LLC. raised its holdings in shares of Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after purchasing an additional 448 shares during the period. Charles Schwab Investment Management Inc. increased its position in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Palantir Technologies in the fourth quarter valued at $876,000. Destiny Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $3,233,000. Finally, State of Alaska Department of Revenue grew its stake in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares during the period. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Mizuho boosted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Robert W. Baird boosted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Citigroup lifted their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have assigned 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 a consensus target price of $69.44.

Palantir Technologies Trading Down 3.5 %

PLTR stock opened at $112.62 on Wednesday. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $118.66. The stock has a market cap of $256.55 billion, a price-to-earnings ratio of 592.77, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. The company’s 50 day moving average is $78.34 and its 200 day moving average is $54.24.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction dated 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 completion of the sale, the director now owns 88,129 shares of the company’s stock, valued at $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $63.10, for a total value of $283,950,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $405,875,479.80. This trade represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,833,085 shares of company stock valued at $924,999,929 in the last quarter. Insiders own 12.93% of the company’s stock.

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.