Mitsubishi UFJ Asset Management Co. Ltd. Buys 359,167 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 11.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,537,419 shares of the company’s stock after acquiring an additional 359,167 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Palantir Technologies worth $282,604,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PLTR. State Street Corp grew its position in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Geode Capital Management LLC lifted its position in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. Lord Abbett & CO. LLC boosted its stake in Palantir Technologies by 943.2% during the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares in the last quarter. Amundi grew its holdings in Palantir Technologies by 62.7% in the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after purchasing an additional 2,623,524 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after purchasing an additional 1,969,213 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PLTR. Robert W. Baird lifted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Mizuho increased their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald increased their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.45.

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $51,545.44. This represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Down 4.4 %

Shares of Palantir Technologies stock opened at $92.28 on Thursday. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The stock’s 50-day simple moving average is $91.28 and its 200-day simple moving average is $68.54. The company has a market capitalization of $216.43 billion, a price-to-earnings ratio of 485.71, a PEG ratio of 10.84 and a beta of 2.81.

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.