Nikko Asset Management Americas Inc. Acquires 850,687 Shares of Palantir Technologies Inc. (NYSE:PLTR)

Nikko Asset Management Americas Inc. increased its holdings in Palantir Technologies Inc. (NYSE:PLTR - Free Report) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,249,083 shares of the company's stock after acquiring an additional 850,687 shares during the period. Palantir Technologies comprises 1.4% of Nikko Asset Management Americas Inc.'s investment portfolio, making the stock its 18th biggest holding. Nikko Asset Management Americas Inc. owned 0.38% of Palantir Technologies worth $141,554,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Truvestments Capital LLC boosted its holdings in Palantir Technologies by 74.9% during the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company's stock worth $26,000 after purchasing an additional 700 shares during the last quarter. First United Bank & Trust bought a new position in shares of Palantir Technologies in the fourth quarter valued at approximately $26,000. Pacifica Partners Inc. purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $27,000. GAMMA Investing LLC purchased a new position in Palantir Technologies in the fourth quarter worth $33,000. Finally, Provence Wealth Management Group bought a new position in Palantir Technologies in the 3rd quarter valued at $34,000. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Price Performance

PLTR stock traded up $0.11 during mid-day trading on Friday, hitting $21.76. 29,941,325 shares of the stock were exchanged, compared to its average volume of 62,216,715. The stock has a market capitalization of $48.14 billion, a price-to-earnings ratio of 181.35, a PEG ratio of 4.95 and a beta of 2.76. The business has a fifty day moving average price of $22.82 and a 200 day moving average price of $20.55. Palantir Technologies Inc. has a 12 month low of $10.39 and a 12 month high of $27.50.

Wall Street Analyst Weigh In

Several brokerages have commented on PLTR. Raymond James lifted their price objective on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 6th. Citigroup increased their price target on Palantir Technologies from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 7th. DA Davidson boosted their price objective on Palantir Technologies from $19.00 to $24.00 and gave the company a "neutral" rating in a research note on Tuesday, May 7th. Wedbush restated an "outperform" rating and set a $35.00 price target on shares of Palantir Technologies in a research note on Monday, May 6th. Finally, Jefferies Financial Group upgraded shares of Palantir Technologies from an "underperform" rating to a "hold" rating and lifted their price objective for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Five analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $20.65.

Insider Buying and Selling

In other Palantir Technologies news, Director Peter Thiel sold 5,000,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the transaction, the director now directly owns 15,733,625 shares in the company, valued at $326,944,727.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Shyam Sankar sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $23.57, for a total value of $1,178,500.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at $17,743,166.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Thiel sold 5,000,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the sale, the director now directly owns 15,733,625 shares of the company's stock, valued at approximately $326,944,727.50. The disclosure for this sale can be found here. Insiders sold 18,457,938 shares of company stock worth $415,665,719 in the last quarter. 13.96% of the stock is owned by insiders.

Palantir Technologies Profile

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.

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