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Mitsubishi UFJ Asset Management UK Ltd. Purchases Shares of 8,500 Palantir Technologies Inc. $PLTR

Palantir Technologies logo with Computer and Technology background
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Key Points

  • Mitsubishi UFJ Asset Management UK Ltd. opened a new position in Palantir during the fourth quarter, buying 8,500 shares valued at about $1.51 million.
  • Palantir’s latest earnings were strong, with EPS of $0.33 beating estimates and revenue of $1.63 billion rising 84.7% year over year.
  • Despite the growth, the stock remains expensive and divided on Wall Street, with a moderate buy consensus and a high valuation around 152x earnings.
  • Interested in Palantir Technologies? Here are five stocks we like better.

Mitsubishi UFJ Asset Management UK Ltd. bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,500 shares of the company's stock, valued at approximately $1,511,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PLTR. Bare Financial Services Inc grew its holdings in shares of Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company's stock worth $28,000 after purchasing an additional 55 shares during the last quarter. Morton Brown Family Wealth LLC grew its holdings in shares of Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company's stock worth $31,000 after purchasing an additional 125 shares during the last quarter. Flagship Wealth Advisors LLC bought a new position in shares of Palantir Technologies in the third quarter worth approximately $32,000. United Financial Planning Group LLC bought a new position in shares of Palantir Technologies in the third quarter worth approximately $32,000. Finally, Clayton Financial Group LLC grew its holdings in shares of Palantir Technologies by 500.0% in the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company's stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

Palantir Technologies Stock Up 0.1%

Shares of PLTR stock opened at $135.26 on Wednesday. The stock has a fifty day moving average of $143.83 and a 200 day moving average of $158.76. Palantir Technologies Inc. has a 52 week low of $118.93 and a 52 week high of $207.52. The firm has a market capitalization of $324.26 billion, a price-to-earnings ratio of 151.98, a PEG ratio of 2.14 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm posted $0.13 earnings per share. The firm's revenue was up 84.7% on a year-over-year basis. Equities research analysts anticipate that Palantir Technologies Inc. will post 1.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PLTR. Northland Securities upgraded shares of Palantir Technologies from a "market perform" rating to an "outperform" rating and set a $190.00 target price on the stock in a report on Tuesday, February 3rd. Argus upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 target price on the stock in a report on Wednesday, May 6th. Zacks Research upgraded shares of Palantir Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $200.00 target price on shares of Palantir Technologies in a report on Tuesday, February 3rd. Finally, Weiss Ratings cut shares of Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $195.16.

Read Our Latest Report on Palantir Technologies

Insider Buying and Selling

In related news, insider David A. Glazer sold 17,438 shares of the firm's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $133.72, for a total value of $2,331,809.36. Following the completion of the sale, the insider owned 392,370 shares of the company's stock, valued at $52,467,716.40. This trade represents a 4.26% 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 Stephen Andrew Cohen sold 327,088 shares of the firm's 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 sale, the insider directly owned 592 shares of the company's stock, valued at $79,162.24. The trade was a 99.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,029,479 shares of company stock valued at $137,685,797 over the last three months. Insiders own 9.53% of the company's stock.

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.

Featured Stories

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:PLTR - Free Report).

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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