Sumitomo Mitsui DS Asset Management Company Ltd Acquires 28,534 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 247,585 shares of the company’s stock after purchasing an additional 28,534 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Palantir Technologies were worth $18,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies during the third quarter valued at $25,000. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. First PREMIER Bank purchased a new stake in Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC increased its position in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Palantir Technologies in the fourth quarter worth about $33,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Up 9.8 %

NASDAQ:PLTR opened at $111.28 on Friday. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $111.55. The stock has a 50 day moving average of $75.56 and a two-hundred day moving average of $52.26. The firm has a market cap of $253.50 billion, a P/E ratio of 556.43, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. On average, research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 38,093 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $63.01, for a total value of $2,400,239.93. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $405,296,576.58. This trade represents a 0.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,656,687 shares of company stock worth $1,040,105,687 in the last ninety days. Insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PLTR. Mizuho upped their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday. Robert W. Baird increased their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday. Citigroup raised their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Royal Bank of Canada increased their price target on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $69.44.

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.