Rakuten Securities Inc. Takes $1.91 Million Position in Palantir Technologies Inc. (NYSE:PLTR)

Rakuten Securities Inc. acquired a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 111,213 shares of the company's stock, valued at approximately $1,910,000. Palantir Technologies accounts for approximately 1.5% of Rakuten Securities Inc.'s investment portfolio, making the stock its 14th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the business. AlphaCrest Capital Management LLC purchased a new stake in Palantir Technologies in the 1st quarter worth approximately $206,000. D.A. Davidson & CO. increased its holdings in shares of Palantir Technologies by 18.6% in the 1st quarter. D.A. Davidson & CO. now owns 14,579 shares of the company's stock worth $200,000 after purchasing an additional 2,286 shares in the last quarter. MetLife Investment Management LLC bought a new stake in shares of Palantir Technologies in the 1st quarter worth $1,475,000. Cibc World Market Inc. increased its holdings in shares of Palantir Technologies by 38.3% in the 1st quarter. Cibc World Market Inc. now owns 226,834 shares of the company's stock worth $3,114,000 after purchasing an additional 62,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Palantir Technologies by 71.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company's stock worth $15,832,000 after buying an additional 482,171 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

NYSE PLTR traded down $0.58 during trading hours on Wednesday, hitting $21.30. The company had a trading volume of 30,055,726 shares, compared to its average volume of 65,456,719. Palantir Technologies Inc. has a 1-year low of $7.28 and a 1-year high of $27.50. The company has a market cap of $47.12 billion, a PE ratio of 236.61, a price-to-earnings-growth ratio of 5.37 and a beta of 2.78. The business has a 50 day moving average of $23.91 and a 200-day moving average of $19.81.

Palantir Technologies (NYSE:PLTR - Get Free Report) last released its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The business had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Sell-side analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the sale, the insider now owns 181,460 shares of the company's stock, valued at approximately $3,992,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the transaction, the insider now directly owns 181,460 shares of the company's stock, valued at $3,992,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 5,000 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the transaction, the director now directly owns 186,783 shares in the company, valued at $4,247,445.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. Company insiders own 13.96% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Raymond James lifted their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an "outperform" rating in a research report on Tuesday, February 6th. Mizuho boosted their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, March 7th. Monness Crespi & Hardt lowered Palantir Technologies from a "neutral" rating to a "sell" rating and set a $20.00 price target for the company. in a report on Thursday, March 28th. Jefferies Financial Group upgraded Palantir Technologies from an "underperform" rating to a "hold" rating and boosted their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Finally, Citigroup upgraded Palantir Technologies from a "sell" rating to a "neutral" rating and upped their target price for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $18.35.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.