MassMutual Private Wealth & Trust FSB Increases Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

MassMutual Private Wealth & Trust FSB boosted its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 83.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,062 shares of the company’s stock after purchasing an additional 2,309 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Palantir Technologies were worth $383,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its stake 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 buying an additional 40,498,024 shares during the period. Geode Capital Management LLC boosted its position in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Palantir Technologies by 5.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock valued at $557,365,000 after purchasing an additional 808,444 shares in the last quarter. FMR LLC increased its holdings in Palantir Technologies by 8.8% in the 3rd quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after purchasing an additional 1,004,603 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PLTR. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target for the company. in a report on Thursday, November 7th. 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 research note on Tuesday, November 5th. Cantor Fitzgerald started coverage on shares of Palantir Technologies in a research note on Friday, January 17th. They set a “neutral” rating and a $72.00 price target on the stock. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $43.78.

Palantir Technologies Stock Up 5.2 %

Shares of NASDAQ PLTR opened at $76.87 on Thursday. The firm’s 50-day moving average price is $70.98 and its two-hundred day moving average price is $48.12. Palantir Technologies Inc. has a 52-week low of $16.03 and a 52-week high of $84.80. The stock has a market capitalization of $175.11 billion, a P/E ratio of 384.37, a P/E/G ratio of 6.66 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced 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 for 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 last year, the business posted $0.03 EPS. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is owned by insiders.

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.