FUKOKU MUTUAL LIFE INSURANCE Co Grows Stake in Palantir Technologies Inc. (NYSE:PLTR)

FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in Palantir Technologies Inc. (NYSE:PLTR) by 25.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,017 shares of the company’s stock after acquiring an additional 3,223 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Palantir Technologies were worth $596,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLTR. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. acquired a new stake in Palantir Technologies in the second quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the third quarter valued at $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $30,000. Finally, Beacon Capital Management LLC boosted its position in shares of Palantir Technologies by 269.5% in the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after buying an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. The trade was a 6.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $58.06, for a total transaction of $514,411.60. Following the completion of the sale, the director now directly owns 121,390 shares in the company, valued at approximately $7,047,903.40. This trade represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,239,238 shares of company stock worth $1,036,731,557. 12.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on PLTR. Monness Crespi & Hardt cut their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. Wedbush raised their price objective on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Citigroup lifted their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.71.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock opened at $59.19 on Friday. The firm has a market cap of $132.55 billion, a PE ratio of 295.96 and a beta of 2.70. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $63.39. The firm’s 50-day simple moving average is $42.48 and its 200-day simple moving average is $31.65.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s revenue was up 30.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. On average, equities analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

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.