Palantir Technologies Inc. (NYSE:PLTR) Stock Holdings Increased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lifted its position in Palantir Technologies Inc. (NYSE:PLTR) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,590,729 shares of the company’s stock after acquiring an additional 955,992 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.58% of Palantir Technologies worth $216,183,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Truvestments Capital LLC raised its holdings in shares of Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares in the last quarter. Pacifica Partners Inc. purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $27,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at about $28,000. Provence Wealth Management Group bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at approximately $34,000. Finally, Glass Jacobson Investment Advisors llc acquired a new position in Palantir Technologies in the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Down 0.7 %

NYSE:PLTR opened at $22.67 on Monday. The firm has a market capitalization of $50.16 billion, a price-to-earnings ratio of 251.92, a PEG ratio of 5.56 and a beta of 2.78. The business’s 50-day moving average price is $23.85 and its two-hundred day moving average price is $19.72. 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 earnings results on Monday, February 5th. The company reported $0.03 earnings per share (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 business had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. Sell-side analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Raymond James boosted their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Jefferies Financial Group upgraded 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 research note on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a research report on Tuesday, February 6th. Mizuho increased their price objective on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Finally, HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research note on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.35.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total transaction of $851,886.60. Following the sale, the insider now directly owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Ryan D. Taylor sold 150,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at approximately $4,355,040. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Heather A. Planishek sold 32,828 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the sale, the insider now directly owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,456,273 shares of company stock valued at $184,343,202. Corporate insiders own 13.96% of the company’s stock.

Palantir Technologies Profile

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.