Illinois Municipal Retirement Fund Sells 50,513 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Illinois Municipal Retirement Fund lowered its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 30.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,931 shares of the company’s stock after selling 50,513 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Palantir Technologies were worth $8,768,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. grew its position in shares of Palantir Technologies by 101.4% during the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after purchasing an additional 448 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position 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 purchasing an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $876,000. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $3,233,000. Finally, Oppenheimer & Co. Inc. grew its position in shares of Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $87.84 on Wednesday. Palantir Technologies Inc. has a one year low of $20.33 and a one year high of $125.41. The stock has a market cap of $200.10 billion, a price-to-earnings ratio of 462.34, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The stock has a 50 day moving average price of $86.44 and a 200-day moving average price of $60.68.

Analyst Ratings Changes

Several analysts recently issued reports on the company. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. UBS Group increased their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. The Goldman Sachs Group raised their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Bank of America raised their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $73.21.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was 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 directly owns 592 shares of the company’s stock, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,719,783 shares of company stock valued at $477,414,743. 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.