Palantir Technologies Inc. $PLTR Shares Sold by Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.

Key Points

• Mitsubishi UFJ Morgan Stanley Securities cut its Palantir position by 70% in the first quarter, selling 9,907 shares and leaving it with 4,236 shares worth about $620,000.
• Palantir continues to attract significant institutional interest overall, with big holders like Norges Bank, State Street, and others expanding positions; institutional investors now own about 45.65% of the stock.
• The company’s latest results were strong, as Palantir reported EPS of $0.33 versus expectations of $0.28 and revenue of $1.63 billion, up 84.7% year over year.

Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. lowered its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 70.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,236 shares of the company's stock after selling 9,907 shares during the period. Palantir Technologies accounts for approximately 1.5% of Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.'s portfolio, making the stock its 9th largest position. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.'s holdings in Palantir Technologies were worth $620,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $5,149,641,000. State Street Corp lifted its holdings in Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company's stock valued at $18,471,648,000 after buying an additional 6,777,771 shares during the period. Cardano Risk Management B.V. lifted its holdings in Palantir Technologies by 917.4% in the fourth quarter. Cardano Risk Management B.V. now owns 6,585,630 shares of the company's stock valued at $1,170,596,000 after buying an additional 5,938,343 shares during the period. Corient Private Wealth LLC boosted its position in Palantir Technologies by 1,449.7% during the fourth quarter. Corient Private Wealth LLC now owns 5,272,601 shares of the company's stock valued at $937,205,000 after acquiring an additional 4,932,364 shares during the last quarter. Finally, Amundi boosted its position in Palantir Technologies by 38.7% during the third quarter. Amundi now owns 15,679,158 shares of the company's stock valued at $2,814,879,000 after acquiring an additional 4,373,201 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PLTR has been the subject of several research analyst reports. Royal Bank Of Canada reissued an "underperform" rating and issued a $90.00 price objective on shares of Palantir Technologies in a research report on Tuesday, May 5th. UBS Group raised Palantir Technologies from a "buy" rating to a "buy" rating in a research note on Tuesday, June 16th. Oppenheimer assumed coverage on Palantir Technologies in a research note on Thursday, April 30th. They issued an "outperform" rating and a $200.00 price target on the stock. Weiss Ratings cut Palantir Technologies from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, April 27th. Finally, BNP Paribas Exane began coverage on shares of Palantir Technologies in a research report on Tuesday, June 16th. They set an "underperform" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $190.85.

Palantir Technologies Stock Performance

PLTR stock opened at $132.22 on Thursday. The stock's 50 day simple moving average is $133.05 and its 200 day simple moving average is $146.99. The company has a market cap of $316.97 billion, a P/E ratio of 148.56, a price-to-earnings-growth ratio of 2.15 and a beta of 1.56. Palantir Technologies Inc. has a fifty-two week low of $106.37 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The company's revenue for the quarter was up 84.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. Equities analysts predict that Palantir Technologies Inc. will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Shyam Sankar sold 35,000 shares of the firm's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $130.00, for a total value of $4,550,000.00. Following the transaction, the insider directly owned 642,786 shares of the company's stock, valued at approximately $83,562,180. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of Palantir Technologies stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.00, for a total transaction of $255,680.00. Following the transaction, the director owned 55,022 shares of the company's stock, valued at $8,803,520. This represents a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,112,270 shares of company stock worth $150,247,785 in the last quarter. Insiders own 9.53% of the company's stock.

Palantir Technologies News Summary

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

• Positive Sentiment: DA Davidson upgraded Palantir to Buy and set a higher price target, reinforcing the bullish case that the company’s AI platform and defense exposure can support further upside. This Wall Street Analyst Sees 30% Upside in Palantir. Is It Time to Buy the Stock?
• Positive Sentiment: Palantir expanded its commercial footprint in Latin America by signing Mexico’s largest insurer, GNP Seguros, its first publicly announced commercial customer in the region, which supports the growth narrative beyond U.S. government contracts. Palantir Expands Its Presence in Mexico and Strengthens Its AI Offering in the Insurance Sector with GNP Seguros
• Positive Sentiment: The company also announced a strategic partnership with SNP to accelerate secure SAP transformations, adding another enterprise-use-case win that could broaden adoption of Palantir’s platform. SNP and Palantir Form Strategic Partnership to Accelerate Secure SAP Transformations
• Neutral Sentiment: Several pieces highlighted Palantir’s growing AI and defense relevance, including its sovereign AI work with Nvidia and commentary that the company is becoming more deeply embedded in long-duration government programs. Nvidia and Palantir Are Bringing Sovereign AI to the U.S. Government. Here's How.
• Negative Sentiment: Shares are sliding as investors worry about intensifying political scrutiny of Palantir’s government business, including reports of possible House action tied to its contracts and criticism of the company’s political posture. Palantir’s real weak spot
• Negative Sentiment: Broader AI and growth-stock weakness is also weighing on PLTR, as traders sell expensive software names amid concerns about slower AI adoption and stretched valuations. What Is Going on With Palantir Stock on Wednesday?
• Negative Sentiment: Recent insider selling, including a large sale by Shyam Sankar, has added to investor caution and reinforced worries that insiders may see the stock as fully valued. Insider trade filing

Palantir Technologies Company Profile

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.

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