15,699 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. acquired a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 15,699 shares of the company’s stock, valued at approximately $1,187,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the period. R Squared Ltd purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $33,000. Financial Management Professionals Inc. boosted its holdings in shares of Palantir Technologies by 171.5% in the fourth quarter. Financial Management Professionals Inc. now owns 543 shares of the company’s stock worth $41,000 after acquiring an additional 343 shares during the period. Finally, Trivant Custom Portfolio Group LLC grew its position in shares of Palantir Technologies by 313.3% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company’s stock valued at $47,000 after purchasing an additional 470 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity at Palantir Technologies

In other news, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the completion of the sale, the insider now owns 562,006 shares of the company’s stock, valued at approximately $28,077,819.76. This represents a 3.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares in the company, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,181,807 shares of company stock valued at $1,288,448,522. Insiders own 12.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PLTR. The Goldman Sachs Group increased their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Bank of America raised their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Trading Down 0.6 %

Shares of Palantir Technologies stock opened at $79.76 on Thursday. The firm has a market capitalization of $181.69 billion, a PE ratio of 398.82, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The business’s 50-day moving average price is $72.59 and its 200-day moving average price is $49.89.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period last year, the business earned $0.03 earnings per share. As a group, analysts predict that Palantir Technologies Inc. will post 0.2 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.