Resona Asset Management Co. Ltd. Buys 70,475 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Resona Asset Management Co. Ltd. boosted its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 12.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 652,885 shares of the company's stock after buying an additional 70,475 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Palantir Technologies were worth $55,248,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Finer Wealth Management Inc. acquired a new stake in Palantir Technologies during the first quarter worth $633,000. Saiph Capital LLC acquired a new stake in Palantir Technologies during the first quarter worth $476,000. Stone House Investment Management LLC acquired a new stake in Palantir Technologies during the first quarter worth $70,000. Public Sector Pension Investment Board boosted its stake in Palantir Technologies by 81.4% during the first quarter. Public Sector Pension Investment Board now owns 540,792 shares of the company's stock worth $45,643,000 after buying an additional 242,610 shares in the last quarter. Finally, AIA Group Ltd boosted its stake in Palantir Technologies by 33.2% during the first quarter. AIA Group Ltd now owns 48,903 shares of the company's stock worth $4,127,000 after buying an additional 12,182 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PLTR shares. Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of Palantir Technologies from a "hold" rating to a "buy" rating in a research note on Saturday. Mizuho upgraded shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $116.00 to $135.00 in a research note on Wednesday, July 16th. Loop Capital boosted their target price on shares of Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $136.61.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 3,418 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. The trade was a 0.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 30,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $175.00, for a total value of $5,250,000.00. Following the sale, the insider directly owned 363,755 shares of the company's stock, valued at $63,657,125. This represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,515,632 shares of company stock worth $196,472,623. Corporate insiders own 12.93% of the company's stock.

Palantir Technologies Stock Down 2.3%

Shares of NASDAQ PLTR opened at $182.68 on Tuesday. The firm's 50-day simple moving average is $146.65 and its 200 day simple moving average is $116.86. The company has a market cap of $431.11 billion, a price-to-earnings ratio of 608.95, a price-to-earnings-growth ratio of 10.54 and a beta of 2.60. Palantir Technologies Inc. has a 12-month low of $29.27 and a 12-month high of $187.99.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.