TT International Asset Management LTD Buys New Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

TT International Asset Management LTD bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 3,500 shares of the company’s stock, valued at approximately $264,000.

Other large investors have also recently made changes to their positions in the company. State Street Corp raised its position in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its position in Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares during the period. FMR LLC raised its position in Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after acquiring an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. The trade was a 87.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. This trade represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research reports. Mizuho upped their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. UBS Group assumed coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price for the company. Wedbush upped their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a report on Thursday, November 7th. Finally, Bank of America upped their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $42.12.

Palantir Technologies Stock Down 1.4 %

NASDAQ:PLTR opened at $67.26 on Monday. The company has a market capitalization of $153.22 billion, a PE ratio of 336.32, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The stock has a fifty day simple moving average of $68.93 and a 200-day simple moving average of $45.98.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 EPS. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

About Palantir Technologies

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.