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

Sumitomo Life Insurance Co. acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 15,699 shares of the company's stock, valued at approximately $1,187,000.

A number of other institutional investors also recently modified their holdings of PLTR. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its position in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock valued at $27,000 after buying an additional 650 shares during the last quarter. First PREMIER Bank bought a new stake in Palantir Technologies in the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies during the 2nd quarter worth approximately $30,000. 45.65% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the completion of the transaction, the insider now directly owns 562,006 shares in the company, valued at approximately $28,077,819.76. The trade was a 3.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the sale, the director now owns 130,250 shares in the company, valued at $6,576,322.50. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,181,807 shares of company stock worth $1,288,448,522 over the last quarter. Insiders own 12.93% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Jefferies Financial Group downgraded shares of Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a research note 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. Wedbush lifted their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an "outperform" rating in a research report on Thursday, January 23rd. Finally, DA Davidson upped their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $44.61.

Palantir Technologies Trading Up 1.8 %

NASDAQ:PLTR traded up $1.46 on Thursday, reaching $81.22. 45,914,038 shares of the stock traded hands, compared to its average volume of 68,165,070. The firm has a market capitalization of $185.02 billion, a price-to-earnings ratio of 406.12, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82. The company's 50 day moving average is $72.94 and its 200-day moving average is $50.10. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during 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 company posted $0.03 earnings per share. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.2 EPS 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.