Sumitomo Mitsui DS Asset Management Company Ltd Purchases 17,485 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 13.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 151,224 shares of the company’s stock after buying an additional 17,485 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Palantir Technologies were worth $2,597,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of PLTR. Truvestments Capital LLC raised its stake in 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. acquired a new position in Palantir Technologies during the fourth quarter worth $27,000. Provence Wealth Management Group acquired a new position in Palantir Technologies during the third quarter worth $34,000. Glass Jacobson Investment Advisors llc acquired a new position in Palantir Technologies during the third quarter worth $35,000. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Palantir Technologies by 1,197.4% during the fourth quarter. SJS Investment Consulting Inc. now owns 2,011 shares of the company’s stock worth $35,000 after purchasing an additional 1,856 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $18,819,650. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the sale, the insider now owns 752,786 shares of the company’s stock, valued at $18,819,650. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the completion of the sale, the director now directly owns 186,783 shares in the company, valued at approximately $4,247,445.42. The disclosure for this sale can be found here. Insiders have sold a total of 7,456,273 shares of company stock valued at $184,343,202 over the last 90 days. 13.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PLTR shares. Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and increased their target price for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Mizuho increased their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a report on Thursday, March 28th. Royal Bank of Canada restated an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a report on Tuesday, February 6th. Finally, Raymond James increased their target price on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Trading Up 3.2 %

NYSE:PLTR opened at $21.64 on Wednesday. Palantir Technologies Inc. has a 1-year low of $7.28 and a 1-year high of $27.50. The business’s 50-day moving average price is $23.64 and its two-hundred day moving average price is $19.99. The firm has a market capitalization of $47.87 billion, a price-to-earnings ratio of 240.42, a PEG ratio of 5.14 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. Sell-side analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Palantir Technologies Company 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.