Sun Financial Inc Takes Position in Palantir Technologies Inc. $PLTR

Sun Financial Inc purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTRFree Report) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 7,210 shares of the company’s stock, valued at approximately $1,282,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Palantir Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock valued at $38,295,188,000 after buying an additional 1,557,828 shares in the last quarter. State Street Corp boosted its stake in Palantir Technologies by 7.2% during the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after buying an additional 6,777,771 shares in the last quarter. Invesco Ltd. boosted its stake in Palantir Technologies by 5.9% during the third quarter. Invesco Ltd. now owns 21,798,785 shares of the company’s stock valued at $3,976,534,000 after buying an additional 1,213,529 shares in the last quarter. Northern Trust Corp boosted its stake in Palantir Technologies by 3.8% during the third quarter. Northern Trust Corp now owns 21,088,462 shares of the company’s stock valued at $3,846,957,000 after buying an additional 769,238 shares in the last quarter. Finally, Amundi boosted its stake in Palantir Technologies by 38.7% during the third quarter. Amundi now owns 15,679,158 shares of the company’s stock valued at $2,814,879,000 after buying an additional 4,373,201 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 327,088 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $133.72, for a total value of $43,738,207.36. Following the completion of the transaction, the insider owned 592 shares in the company, valued at $79,162.24. This trade represents a 99.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 19,988 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $2,672,795.36. Following the completion of the transaction, the insider owned 219,421 shares of the company’s stock, valued at $29,340,976.12. This trade represents a 8.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,029,479 shares of company stock worth $137,685,797 over the last three months. Company insiders own 9.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PLTR shares. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and decreased their target price for the company from $205.00 to $151.00 in a research note on Friday. Wedbush reaffirmed an “outperform” rating and set a $230.00 target price on shares of Palantir Technologies in a research note on Friday, April 10th. Zacks Research cut Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Oppenheimer started coverage on Palantir Technologies in a research note on Thursday. They set an “outperform” rating and a $200.00 target price for the company. Finally, Phillip Securities decreased their target price on Palantir Technologies from $208.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.17.

Check Out Our Latest Research Report on PLTR

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $144.07 on Monday. Palantir Technologies Inc. has a 1-year low of $105.32 and a 1-year high of $207.52. The firm has a market capitalization of $344.57 billion, a price-to-earnings ratio of 228.69, a price-to-earnings-growth ratio of 2.69 and a beta of 1.52. The stock has a fifty day simple moving average of $145.27 and a 200 day simple moving average of $162.50.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last released its quarterly earnings results on Monday, February 2nd. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. Palantir Technologies had a return on equity of 23.81% and a net margin of 36.31%.The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company posted $0.14 EPS. Palantir Technologies’s revenue for the quarter was up 70.0% on a year-over-year basis. Equities analysts predict that Palantir Technologies Inc. will post 1.05 earnings per share for the current year.

More Palantir Technologies News

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Palantir Technologies Company Profile

(Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

See Also

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTRFree Report).

Institutional Ownership by Quarter for Palantir Technologies (NASDAQ:PLTR)

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