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China Universal Asset Management Co. Ltd. Purchases 31,754 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir Technologies logo with Computer and Technology background

China Universal Asset Management Co. Ltd. increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 89.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 67,242 shares of the company's stock after buying an additional 31,754 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Palantir Technologies were worth $5,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Revolve Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $450,000. Assetmark Inc. increased its stake in shares of Palantir Technologies by 46.3% during the fourth quarter. Assetmark Inc. now owns 1,191 shares of the company's stock worth $90,000 after acquiring an additional 377 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth about $522,000. Cullen Frost Bankers Inc. increased its stake in shares of Palantir Technologies by 4,248.7% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,696 shares of the company's stock worth $128,000 after acquiring an additional 1,657 shares during the period. Finally, Andra AP fonden acquired a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $454,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Trading Up 0.4%

PLTR traded up $0.59 on Tuesday, reaching $139.71. The company had a trading volume of 59,671,979 shares, compared to its average volume of 83,008,050. The company has a market capitalization of $329.70 billion, a P/E ratio of 1,159.33, a PEG ratio of 11.88 and a beta of 2.59. The company has a fifty day moving average of $128.96 and a 200-day moving average of $102.29. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $148.22.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the business posted $0.08 EPS. The business's revenue for the quarter was up 39.4% compared to the same quarter last year. Research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on PLTR shares. Morgan Stanley boosted their target price on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Mizuho upped their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an "underperform" rating in a report on Wednesday, June 11th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wedbush set a $140.00 price target on shares of Palantir Technologies and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Finally, Loop Capital set a $155.00 price target on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $89.32.

Check Out Our Latest Report on Palantir Technologies

Insiders Place Their Bets

In related news, insider Stephen Andrew Cohen sold 309,696 shares of the business'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 transaction of $39,142,477.44. Following the transaction, the insider directly owned 592 shares of the company's stock, valued at approximately $74,822.88. The trade was a 99.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 35,480 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $4,484,317.20. Following the completion of the transaction, the insider directly owned 367,691 shares in the company, valued at $46,472,465.49. This trade represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,451,497 shares of company stock valued at $186,110,685 over the last 90 days. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies Profile

(Free Report)

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

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