MUFG Securities EMEA plc Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)
MUFG Securities EMEA plc acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during Q1, purchasing 409,999 shares valued at approximately $34.6 million, making it the 11th largest position in its portfolio. Other institutional investors also increased their holdings. Analysts have set various price targets for Palantir, with a consensus rating of "Hold" and an average target price of $136.61. Palantir's stock recently opened at $186.96, with a 52-week range of $29.10 to $187.99, and reported a revenue increase of 48% year-over-year in its latest earnings report.
MUFG Securities EMEA plc bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 409,999 shares of the company's stock, valued at approximately $34,604,000. Palantir Technologies accounts for approximately 0.8% of MUFG Securities EMEA plc's portfolio, making the stock its 11th biggest position.
Get Palantir Technologies alerts:
- Palantir Stock Soars After Blowout Earnings Report
A number of other institutional investors have also modified their holdings of PLTR. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies in the 1st quarter valued at $25,000. Richardson Capital Management LLC acquired a new position in Palantir Technologies in the 1st quarter valued at $33,000. Cornerstone Planning Group LLC increased its stake in Palantir Technologies by 90.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 390 shares of the company's stock valued at $33,000 after buying an additional 185 shares during the period. Atlantic Edge Private Wealth Management LLC increased its stake in Palantir Technologies by 45.5% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 400 shares of the company's stock valued at $34,000 after buying an additional 125 shares during the period. Finally, Godsey & Gibb Inc. increased its stake in Palantir Technologies by 740.0% in the 1st quarter. Godsey & Gibb Inc. now owns 420 shares of the company's stock valued at $35,000 after buying an additional 370 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an "outperform" rating in a research note on Tuesday. Citigroup reissued a "neutral" rating and issued a $177.00 price objective (up from $158.00) on shares of Palantir Technologies in a research note on Tuesday. Mizuho raised shares of Palantir Technologies from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an "equal weight" rating in a research note on Tuesday. Finally, The Goldman Sachs Group boosted their price objective on shares of Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $136.61.
- MarketBeat Week in Review – 07/28 - 08/01
View Our Latest Report on PLTR
Palantir Technologies Stock Up 2.6%
Palantir Technologies stock opened at $186.96 on Friday. Palantir Technologies Inc. has a 52 week low of $29.10 and a 52 week high of $187.99. The firm's 50-day simple moving average is $145.64 and its 200 day simple moving average is $115.61. The firm has a market capitalization of $441.21 billion, a PE ratio of 623.22, a P/E/G ratio of 11.57 and a beta of 2.60.
- This Drone Stock Is on Sale Despite Big Army Contract
Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. During the same period in the previous year, the firm earned $0.09 EPS. The business's revenue for the quarter was up 48.0% compared to the same quarter last year. On average, research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.
Insiders Place Their Bets
In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $139.61, for a total value of $111,688.00. Following the transaction, the director directly owned 62,887 shares in the company, valued at approximately $8,779,654.07. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan D. Taylor sold 30,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the transaction, the insider owned 363,755 shares in the company, valued at approximately $63,657,125. This trade represents a 7.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,515,632 shares of company stock worth $196,472,623. 9.23% of the stock is owned by company insiders.
About Palantir Technologies
(Free Report)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.
See Also
- Five stocks we like better than Palantir Technologies
- What Investors Need to Know to Beat the Market
- Airbnb Beats Earnings, But the Growth Story Is Losing Altitude
- 3 Warren Buffett Stocks to Buy Now
- Netflix Bulls vs. Bears: Who Wins This Pullback?
- 3 Natural Gas Stocks That Offer Great Dividend Yields
- Viasat: Why a Wall of Cash Has Shorts Running for Cover
Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Palantir Technologies Right Now?
Before you consider Palantir Technologies, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palantir Technologies wasn't on the list.
While Palantir Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
