SBI Securities Co. Ltd. Cuts Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

SBI Securities Co. Ltd. cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 26.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 571,764 shares of the company's stock after selling 202,826 shares during the period. Palantir Technologies makes up about 1.6% of SBI Securities Co. Ltd.'s portfolio, making the stock its 12th biggest holding. SBI Securities Co. Ltd.'s holdings in Palantir Technologies were worth $48,257,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Palantir Technologies in the 4th quarter worth approximately $1,360,191,000. Geode Capital Management LLC boosted its stake in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares during the period. Wellington Management Group LLP increased its position in Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after acquiring an additional 3,907,022 shares during the last quarter. Invesco Ltd. raised its stake in shares of Palantir Technologies by 31.2% in the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the period. Finally, Capital World Investors bought a new stake in shares of Palantir Technologies in the 4th quarter worth about $253,816,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Insiders Place Their Bets

In related news, Director Eric H. Woersching sold 10,214 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $130.95, for a total value of $1,337,523.30. Following the completion of the transaction, the director directly owned 2,348 shares of the company's stock, valued at $307,470.60. This trade represents a 81.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Glazer sold 3,418 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the sale, the insider directly owned 492,079 shares in the company, valued at $61,987,191.63. This trade represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,452,297 shares of company stock valued at $186,222,373. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Up 5.0%

Shares of NASDAQ PLTR traded up $7.05 during trading hours on Monday, hitting $149.15. 81,498,736 shares of the stock were exchanged, compared to its average volume of 96,976,188. Palantir Technologies Inc. has a 12 month low of $21.23 and a 12 month high of $149.58. The firm has a fifty day moving average price of $130.81 and a 200-day moving average price of $103.96. The company has a market cap of $351.98 billion, a PE ratio of 648.48, a PEG ratio of 12.13 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.13. The business had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The business's quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PLTR shares. Daiwa America upgraded shares of Palantir Technologies to a "hold" rating in a report on Tuesday, April 1st. Royal Bank Of Canada reaffirmed an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Wedbush set a $160.00 price target on Palantir Technologies in a research note on Thursday. Citigroup upped their price objective on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, UBS Group reiterated a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $90.37.

About Palantir Technologies

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.