Palantir Technologies Inc. (NYSE:PLTR) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 10.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 944,057 shares of the company’s stock after selling 109,608 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Palantir Technologies were worth $21,722,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pursue Wealth Partners LLC purchased a new stake in Palantir Technologies during the 4th quarter worth about $1,741,000. Vanguard Group Inc. increased its position in Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Palantir Technologies by 10.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after purchasing an additional 116,220 shares in the last quarter. SG Americas Securities LLC increased its position in Palantir Technologies by 183.3% during the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after purchasing an additional 102,479 shares in the last quarter. Finally, Accel Wealth Management purchased a new stake in Palantir Technologies during the 1st quarter worth about $360,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent research reports. HSBC lifted their price objective on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Argus began coverage on Palantir Technologies in a report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target for the company. Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a report on Friday, June 21st. Finally, Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Seven research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.32.

Palantir Technologies Price Performance

Palantir Technologies stock traded down $0.06 during midday trading on Friday, hitting $28.58. 49,581,636 shares of the company were exchanged, compared to its average volume of 42,311,336. The company’s fifty day moving average price is $24.25 and its 200-day moving average price is $22.56. The company has a market cap of $63.64 billion, a PE ratio of 238.19, a price-to-earnings-growth ratio of 6.60 and a beta of 2.71. Palantir Technologies Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $29.83.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. On average, analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the transaction, the director now directly owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the transaction, the director now directly owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter Thiel sold 5,000,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total value of $103,900,000.00. Following the completion of the transaction, the director now directly owns 15,733,625 shares in the company, valued at $326,944,727.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,377,179 shares of company stock valued at $240,083,913. Corporate insiders own 12.93% of the company’s stock.

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.