Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by Tokio Marine Asset Management Co. Ltd.

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its holdings in Palantir Technologies by 6.4% in the first quarter, resulting in ownership of 64,979 shares valued at approximately $5.48 million.
• Palantir Technologies reported earnings per share of $0.16, surpassing estimates and achieving 48% revenue growth year-over-year, with total revenue for the quarter at $1 billion.
• Insider transactions included significant stock sales, with Director Eric H. Woersching selling over 10,000 shares and insider Ryan D. Taylor selling 30,000 shares, together valued at over $6 million.

Tokio Marine Asset Management Co. Ltd. lifted its stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 6.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,979 shares of the company's stock after buying an additional 3,920 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in Palantir Technologies were worth $5,484,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Nuveen LLC purchased a new position in Palantir Technologies during the first quarter worth approximately $520,232,000. Goldman Sachs Group Inc. boosted its position in Palantir Technologies by 38.5% during the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares in the last quarter. Capital World Investors purchased a new position in Palantir Technologies during the fourth quarter worth approximately $253,816,000. Northern Trust Corp boosted its position in Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Palantir Technologies by 20.3% during the first quarter. Invesco Ltd. now owns 17,746,956 shares of the company's stock worth $1,497,843,000 after purchasing an additional 2,998,716 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR traded down $2.60 during midday trading on Wednesday, hitting $184.37. The company had a trading volume of 53,416,270 shares, compared to its average volume of 60,256,280. Palantir Technologies Inc. has a twelve month low of $29.31 and a twelve month high of $190.00. The stock has a market cap of $435.10 billion, a price-to-earnings ratio of 614.59, a price-to-earnings-growth ratio of 10.54 and a beta of 2.60. The business's 50-day simple moving average is $148.82 and its 200-day simple moving average is $117.81.

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

Analysts Set New Price Targets

PLTR has been the topic of a number of recent analyst reports. Cantor Fitzgerald increased their price target on Palantir Technologies from $110.00 to $155.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. The Goldman Sachs Group increased their price target on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Morgan Stanley set a $155.00 price target on Palantir Technologies and gave the stock an "equal weight" rating in a research report on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and set a $165.00 price target (up previously from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, DA Davidson set a $170.00 price target on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus price target of $136.61.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 30,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider owned 363,755 shares of the company's stock, valued at approximately $63,657,125. This trade represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares of the company's stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,515,632 shares of company stock valued at $196,472,623. 9.23% of the stock is currently owned by company insiders.

Palantir Technologies Company 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.