Mitsubishi UFJ Asset Management Co. Ltd. Increases Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 13.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,020,664 shares of the company's stock after acquiring an additional 483,245 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.17% of Palantir Technologies worth $339,344,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Accuvest Global Advisors purchased a new stake in Palantir Technologies during the first quarter valued at approximately $757,000. WealthPlan Investment Management LLC boosted its stake in shares of Palantir Technologies by 8.1% during the 1st quarter. WealthPlan Investment Management LLC now owns 38,710 shares of the company's stock worth $3,267,000 after acquiring an additional 2,905 shares during the last quarter. Ironwood Investment Counsel LLC grew its position in shares of Palantir Technologies by 14.5% during the 1st quarter. Ironwood Investment Counsel LLC now owns 3,458 shares of the company's stock valued at $292,000 after acquiring an additional 438 shares during the period. Headlands Technologies LLC increased its stake in shares of Palantir Technologies by 146.5% in the 1st quarter. Headlands Technologies LLC now owns 78,773 shares of the company's stock worth $6,648,000 after purchasing an additional 46,815 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Palantir Technologies by 0.4% in the 1st quarter. Deutsche Bank AG now owns 6,814,280 shares of the company's stock worth $575,125,000 after purchasing an additional 29,055 shares during the period. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $179.54 on Thursday. The company has a market cap of $423.70 billion, a price-to-earnings ratio of 598.49, a PEG ratio of 14.08 and a beta of 2.60. Palantir Technologies Inc. has a 1 year low of $26.24 and a 1 year high of $180.58. The stock's 50 day simple moving average is $143.23 and its two-hundred day simple moving average is $114.06.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Palantir Technologies's revenue was up 48.0% on a year-over-year basis. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 30,812 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $3,894,328.68. Following the sale, the insider directly owned 495,497 shares of the company's stock, valued at $62,625,865.83. The trade was a 5.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the sale, the insider directly owned 6,432,258 shares of the company's stock, valued at $812,973,088.62. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,485,632 shares of company stock worth $191,222,623 in the last quarter. Company insiders own 9.23% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on PLTR. Citigroup reissued a "neutral" rating and set a $177.00 price target (up previously from $158.00) on shares of Palantir Technologies in a report on Tuesday. Bank of America raised their target price on shares of Palantir Technologies from $150.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the stock an "outperform" rating in a research note on Tuesday. Finally, UBS Group restated a "neutral" rating and set a $165.00 price objective (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $136.61.

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.

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