Sumitomo Life Insurance Co. Grows Stock Position in Palantir Technologies Inc. $PLTR

Sumitomo Life Insurance Co. grew its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 38.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,038 shares of the company’s stock after acquiring an additional 5,844 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Palantir Technologies were worth $2,868,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies in the first quarter valued at approximately $25,000. Signature Resources Capital Management LLC purchased a new position in shares of Palantir Technologies in the second quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at approximately $27,000. 1248 Management LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at approximately $27,000. Finally, Briaud Financial Planning Inc purchased a new position in shares of Palantir Technologies in the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Buying and Selling at Palantir Technologies

In other news, insider David A. Glazer sold 81,000 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the completion of the transaction, the insider directly owned 431,169 shares of the company’s stock, valued at approximately $66,602,675.43. This represents a 15.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 191,720 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total value of $29,020,656.40. Following the transaction, the insider directly owned 592 shares of the company’s stock, valued at approximately $89,611.04. This represents a 99.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,557,750 shares of company stock worth $239,713,896. Corporate insiders own 9.23% of the company’s stock.

Palantir Technologies Trading Up 3.0%

Shares of NASDAQ PLTR opened at $200.47 on Friday. Palantir Technologies Inc. has a twelve month low of $40.90 and a twelve month high of $204.18. The stock has a fifty day simple moving average of $174.75 and a 200-day simple moving average of $150.78. The stock has a market capitalization of $475.58 billion, a PE ratio of 668.26, a PEG ratio of 10.87 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $939.29 million. During the same period in the previous year, the firm posted $0.09 EPS. Palantir Technologies’s revenue for the quarter was up 48.0% on a year-over-year basis. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Piper Sandler raised their target price on Palantir Technologies from $182.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Mizuho set a $165.00 price objective on Palantir Technologies in a research report on Monday, September 15th. Deutsche Bank Aktiengesellschaft upgraded Palantir Technologies from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $80.00 to $160.00 in a research report on Tuesday, August 5th. Citigroup lifted their price objective on Palantir Technologies from $177.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Finally, UBS Group reiterated a “neutral” rating and set a $165.00 price objective (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $142.00.

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.