Sumitomo Mitsui Trust Holdings Inc. Acquires 955,992 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,590,729 shares of the company's stock after buying an additional 955,992 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.58% of Palantir Technologies worth $216,183,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. bought a new position in shares of Palantir Technologies in the fourth quarter worth about $27,000. Quilter Plc bought a new position in shares of Palantir Technologies during the first quarter valued at approximately $1,568,940,000. Truvestments Capital LLC grew its stake in shares of Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company's stock valued at $26,000 after buying an additional 700 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in shares of Palantir Technologies by 185.7% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 2,000 shares of the company's stock valued at $35,000 after buying an additional 1,300 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its stake 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 valued at $35,000 after buying an additional 1,856 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several research analyst reports. Jefferies Financial Group raised Palantir Technologies from an "underperform" rating to a "hold" rating and increased their price objective for the stock from $13.00 to $22.00 in a research note on Tuesday, February 6th. HSBC lowered Palantir Technologies from a "buy" rating to a "hold" rating and set a $22.00 price objective for the company. in a report on Wednesday, February 14th. Bank of America raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, March 6th. Royal Bank of Canada restated an "underperform" rating and issued a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Finally, Monness Crespi & Hardt lowered Palantir Technologies from a "neutral" rating to a "sell" rating and set a $20.00 target price for the company. in a research note on Thursday, March 28th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $18.35.

Insiders Place Their Bets

In other news, Director Peter Thiel sold 7,044,756 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the sale, the director now directly owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Peter Thiel sold 7,044,756 shares of the company's stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the transaction, the director now directly owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the transaction, the insider now owns 181,460 shares in the company, valued at $3,992,120. The disclosure for this sale can be found here. In the last three months, insiders sold 7,456,273 shares of company stock worth $184,343,202. Corporate insiders own 13.96% of the company's stock.

Palantir Technologies Stock Down 3.3 %

Shares of PLTR stock traded down $0.76 on Monday, hitting $21.92. The company had a trading volume of 38,027,245 shares, compared to its average volume of 66,384,891. The firm has a market cap of $48.49 billion, a P/E ratio of 249.47, a price-to-earnings-growth ratio of 5.56 and a beta of 2.78. The company has a 50-day moving average price of $23.85 and a 200-day moving average price of $19.72. Palantir Technologies Inc. has a twelve month low of $7.28 and a twelve month high of $27.50.

Palantir Technologies (NYSE:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The business had revenue of $608.35 million during the quarter, compared to analysts' expectations of $603.48 million. Equities research analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current year.

About Palantir Technologies

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.