MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 1,596,667 Shares of Palantir Technologies Inc. $PLTR

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Palantir Technologies by 67.0%, owning a total of 3,979,306 shares after acquiring 1,596,667 shares recently.
• Despite the increase in ownership, Palantir constitutes only 0.8% of MIRAE's holdings, ranking as their 18th largest investment.
• Several analysts have set varied price targets for Palantir Technologies, with a consensus rating of "Hold" and an average price target of $136.61.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 67.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,979,306 shares of the company's stock after buying an additional 1,596,667 shares during the quarter. Palantir Technologies comprises approximately 0.8% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings, making the stock its 18th largest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.17% of Palantir Technologies worth $335,880,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PLTR. Mechanics Financial Corp bought a new position in Palantir Technologies in the first quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at about $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at about $27,000. Richardson Capital Management LLC acquired a new position in shares of Palantir Technologies in the 1st quarter valued at about $33,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after buying an additional 185 shares during the period. Institutional investors own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research analyst reports. DA Davidson set a $170.00 target price on Palantir Technologies and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Bank of America boosted their price objective on Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Citigroup reissued a "neutral" rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Mizuho raised Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada lifted their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $136.61.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 191,720 shares of Palantir Technologies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $151.37, for a total transaction of $29,020,656.40. Following the sale, the insider directly owned 592 shares in the company, valued at $89,611.04. This trade represents a 99.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Glazer sold 81,000 shares of Palantir Technologies stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total transaction of $12,512,070.00. Following the sale, the insider owned 431,169 shares in the company, valued at $66,602,675.43. This represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,990,586 shares of company stock worth $295,423,583. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies Stock Up 0.8%

NASDAQ:PLTR opened at $156.14 on Friday. The company has a fifty day simple moving average of $156.55 and a two-hundred day simple moving average of $124.44. The company has a market cap of $370.42 billion, a price-to-earnings ratio of 520.48, a price-to-earnings-growth ratio of 8.73 and a beta of 2.59. Palantir Technologies Inc. has a 52 week low of $29.50 and a 52 week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm's revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current 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.

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