Palantir Technologies Inc. (NASDAQ:PLTR) Position Increased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,532,241 shares of the company's stock after purchasing an additional 344,127 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.46% of Palantir Technologies worth $796,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Heritage Wealth Management Inc. CA raised its holdings in shares of Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after purchasing an additional 111 shares during the period. True Wealth Design LLC increased its position in shares of Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company's stock worth $38,000 after acquiring an additional 114 shares in the last quarter. Westover Capital Advisors LLC raised its stake in shares of Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock valued at $554,000 after acquiring an additional 130 shares during the period. Tritonpoint Wealth LLC raised its stake in shares of Palantir Technologies by 1.9% in the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock valued at $537,000 after acquiring an additional 132 shares during the period. Finally, Twin Peaks Wealth Advisors LLC lifted its holdings in shares of Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company's stock valued at $493,000 after acquiring an additional 139 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of research reports. Cantor Fitzgerald upped their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. UBS Group upped their target price on Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Northland Securities increased their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research note on Tuesday, February 4th. Mizuho increased their target price on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research note on Tuesday, May 6th. Finally, Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $83.95.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares of the company's stock, valued at $64,958,509.98. This trade represents a 4.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek bought 10,000 shares of Palantir Technologies stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $116.14 per share, for a total transaction of $1,161,400.00. Following the acquisition, the insider now owns 58,006 shares in the company, valued at $6,736,816.84. The trade was a 20.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 2,964,290 shares of company stock valued at $250,504,866 in the last quarter. Insiders own 9.23% of the company's stock.

Palantir Technologies Trading Down 4.0%

NASDAQ PLTR traded down $5.01 during mid-day trading on Wednesday, reaching $120.58. 80,301,731 shares of the company's stock traded hands, compared to its average volume of 77,331,731. Palantir Technologies Inc. has a 1-year low of $20.63 and a 1-year high of $133.49. The company has a fifty day simple moving average of $101.18 and a 200-day simple moving average of $86.53. The company has a market cap of $282.80 billion, a price-to-earnings ratio of 634.66, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The firm had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same quarter last year, the firm earned $0.08 EPS. Palantir Technologies's quarterly revenue was up 39.4% on a year-over-year basis. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal 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.