Sumitomo Mitsui DS Asset Management Company Ltd Acquires 13,049 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,634 shares of the company's stock after acquiring an additional 13,049 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Palantir Technologies were worth $21,998,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PLTR. Norges Bank purchased a new position in Palantir Technologies in the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock valued at $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of 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 buying an additional 3,907,022 shares during the last quarter. Invesco Ltd. increased its position in shares of Palantir Technologies by 31.2% during 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 in the last quarter. Finally, Capital World Investors purchased a new position in Palantir Technologies in the 4th quarter worth approximately $253,816,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Up 1.1%

PLTR traded up $1.44 during trading on Wednesday, hitting $132.12. The company's stock had a trading volume of 59,500,085 shares, compared to its average volume of 82,817,618. The business's 50 day simple moving average is $126.89 and its 200-day simple moving average is $100.44. The firm has a market cap of $311.79 billion, a PE ratio of 574.43, a P/E/G ratio of 11.16 and a beta of 2.59. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22.

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

Wall Street Analyst Weigh In

PLTR has been the topic of several analyst reports. Loop Capital set a $155.00 price objective on Palantir Technologies and gave the company a "buy" rating in a research report on Thursday, June 12th. UBS Group restated a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Cantor Fitzgerald increased their price objective on Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Finally, Daiwa Capital Markets started coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 target price for the company. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $89.32.

Insiders Place Their Bets

In related news, insider Ryan D. Taylor sold 3,936 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $495,817.92. Following the completion of the sale, the insider directly owned 363,755 shares of the company's stock, valued at approximately $45,822,217.35. This represents a 1.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric H. Woersching sold 17,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the sale, the director owned 12,562 shares in the company, valued at approximately $1,624,140.98. The trade was a 57.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,408,748 shares of company stock valued at $180,327,603. 9.23% of the stock is currently owned by corporate insiders.

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.