Palantir Technologies Inc. (NASDAQ:PLTR) Stock Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 20.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,922,563 shares of the company’s stock after selling 3,060,362 shares during the quarter. Palantir Technologies comprises 0.6% of Sumitomo Mitsui Trust Group Inc.’s portfolio, making the stock its 22nd largest position. Sumitomo Mitsui Trust Group Inc. owned approximately 0.52% of Palantir Technologies worth $901,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Czech National Bank acquired a new stake in shares of Palantir Technologies in the third quarter worth $15,261,000. GAMMA Investing LLC increased its stake in shares of Palantir Technologies by 83.9% in the third quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock worth $213,000 after purchasing an additional 2,607 shares during the period. Diversified Trust Co increased its stake in shares of Palantir Technologies by 172.7% in the third quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock worth $802,000 after purchasing an additional 13,652 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of Palantir Technologies by 23.8% in the third quarter. Dynamic Advisor Solutions LLC now owns 79,563 shares of the company’s stock worth $2,960,000 after purchasing an additional 15,270 shares during the period. Finally, Strategic Wealth Partners Ltd. grew its position in Palantir Technologies by 4.1% during the third quarter. Strategic Wealth Partners Ltd. now owns 19,580 shares of the company’s stock worth $728,000 after buying an additional 772 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 9.8 %

Palantir Technologies stock opened at $111.28 on Friday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $111.55. The firm has a 50 day moving average price of $75.56 and a 200-day moving average price of $52.26. The company has a market capitalization of $253.50 billion, a P/E ratio of 556.43, a P/E/G ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last announced 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 company 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%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. Equities analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the sale, the director now owns 88,129 shares in the company, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. This trade represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,656,687 shares of company stock worth $1,040,105,687. 12.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PLTR has been the topic of a number of recent research reports. Citigroup lifted their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. DA Davidson boosted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday. Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday. UBS Group upped their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, William Blair reissued an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.44.

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.