Palantir Technologies Inc. $PLTR Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. reduced its stake in Palantir Technologies by 12.5%, selling over 1.2 million shares and retaining ownership of approximately 8.9 million shares valued at about $1.2 billion.
• Insider trading activity noted significant sales, including insider David A. Glazer selling 81,000 shares for over $12.5 million, representing a 15.82% decrease in his ownership.
• Several analysts have rated Palantir Technologies with varying target prices, with the stock currently holding a consensus rating of "Hold" and an average price target of around $141.28.

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 12.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,928,069 shares of the company's stock after selling 1,274,771 shares during the quarter. Palantir Technologies makes up 0.8% of Sumitomo Mitsui Trust Group Inc.'s holdings, making the stock its 15th biggest position. Sumitomo Mitsui Trust Group Inc. owned about 0.38% of Palantir Technologies worth $1,217,074,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC acquired a new stake in Palantir Technologies during the second quarter valued at $25,000. Briaud Financial Planning Inc acquired a new stake in Palantir Technologies during the second quarter valued at $27,000. Frazier Financial Advisors LLC acquired a new stake in Palantir Technologies during the second quarter valued at $28,000. Family Legacy Financial Solutions LLC acquired a new stake in Palantir Technologies during the second quarter valued at $31,000. Finally, Tradewinds Capital Management LLC grew its position in Palantir Technologies by 147.4% during the second quarter. Tradewinds Capital Management LLC now owns 235 shares of the company's stock valued at $32,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Ratings Changes

PLTR has been the topic of several research analyst reports. Morgan Stanley set a $155.00 target price on shares of Palantir Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada lifted their target price on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. DA Davidson set a $170.00 target price on shares of Palantir Technologies and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Piper Sandler lifted their target price on shares of Palantir Technologies from $182.00 to $201.00 and gave the company an "overweight" rating in a research report on Tuesday, October 14th. Finally, Wedbush set a $200.00 target price on shares of Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $141.28.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the transaction, the insider directly owned 431,169 shares of the company's stock, valued at $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 222,878 shares of Palantir Technologies stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $151.37, for a total transaction of $33,737,042.86. Following the transaction, the insider directly owned 6,432,258 shares in the company, valued at $973,650,893.46. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,557,750 shares of company stock valued at $239,713,896 over the last ninety days. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Trading Up 2.7%

PLTR opened at $185.41 on Friday. The firm has a market capitalization of $439.86 billion, a PE ratio of 617.39, a PEG ratio of 9.51 and a beta of 2.60. Palantir Technologies Inc. has a twelve month low of $40.90 and a twelve month high of $190.00. The firm's 50-day moving average price is $171.20 and its 200 day moving average price is $145.60.

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

Palantir Technologies 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.

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