Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 11.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,537,419 shares of the company’s stock after buying an additional 359,167 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Palantir Technologies were worth $282,604,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PLTR. Prestige Wealth Management Group LLC boosted its stake in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC bought a new stake in Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC grew its stake in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its holdings in shares of Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the period. Institutional investors own 45.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Bank of America lifted their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Finally, Loop Capital reduced their price target on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.45.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 310,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $51,545.44. The trade was a 99.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock worth $281,528,938 over the last quarter. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR opened at $92.28 on Thursday. The business’s 50-day moving average is $91.28 and its two-hundred day moving average is $68.54. The company has a market capitalization of $216.43 billion, a P/E ratio of 485.71, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41.

Palantir Technologies 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.