Palantir Technologies Inc. $PLTR Stock: Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. Grows Holdings

Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 211.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,330 shares of the company’s stock after buying an additional 4,977 shares during the quarter. Palantir Technologies comprises about 3.6% of Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s investment portfolio, making the stock its 5th biggest position. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s holdings in Palantir Technologies were worth $1,371,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PLTR. BlackRock Inc. grew its position in Palantir Technologies by 0.4% during the second quarter. BlackRock Inc. now owns 189,817,693 shares of the company’s stock valued at $22,146,030,000 after acquiring an additional 757,322 shares during the period. State Street Corp increased its stake in Palantir Technologies by 2.8% during the second quarter. State Street Corp now owns 104,490,468 shares of the company’s stock worth $12,190,903,000 after acquiring an additional 2,863,874 shares during the last quarter. Bank of America Corp DE increased its stake in Palantir Technologies by 1.0% during the second quarter. Bank of America Corp DE now owns 19,020,265 shares of the company’s stock worth $2,219,094,000 after acquiring an additional 180,486 shares during the last quarter. Amundi raised its holdings in shares of Palantir Technologies by 7.4% in the 2nd quarter. Amundi now owns 17,623,053 shares of the company’s stock worth $2,056,082,000 after purchasing an additional 1,212,653 shares during the period. Finally, Jennison Associates LLC purchased a new position in shares of Palantir Technologies in the 1st quarter worth about $1,574,111,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PLTR has been the topic of several research analyst reports. Roth Capital assumed coverage on Palantir Technologies in a research note on Tuesday, August 4th. They issued a “buy” rating on the stock. William Blair reiterated an “outperform” rating on shares of Palantir Technologies in a report on Wednesday, August 26th. Phillip Securities downgraded shares of Palantir Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Yorkville Ives started coverage on shares of Palantir Technologies in a report on Tuesday, October 6th. They issued an “outperform” rating and a $250.00 price target on the stock. Finally, Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $156.00 to $207.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $216.76.

Trending Headlines about Palantir Technologies

These are some of the PLTR headlines that stood out recently:

• Neutral Sentiment: CEO Alex Karp’s comments emphasizing the role of U.S. military support in Silicon Valley’s development reinforce Palantir’s government and defense positioning, but the article does not report a new contract or financial impact. Article: Palantir CEO Alex Karp Says Silicon Valley ‘Would Not Even Exist’ Without US Military Support
• Negative Sentiment: Valuation is another headwind: several reports argue that even rapid growth may not justify the stock’s high price, leaving little room for disappointment. Rising dilution is also cited as a concern. Article: Palantir Grew Revenue 96%. The Stock Fell 5%.
• Negative Sentiment: European defense contractor Helsing introduced its Clarity AI platform, which is being trialed by Germany’s military and designed around European sovereignty requirements. It could challenge Palantir for some defense AI business in Europe. Article: Palantir (PLTR) Faces A European Rival In Defense AI

Insiders Place Their Bets

In related news, Director Lauren Friedman Stat sold 1,358 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $186.29, for a total transaction of $252,981.82. Following the transaction, the director directly owned 45,044 shares of the company’s stock, valued at approximately $8,391,246.76. The trade was a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric H. Woersching sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $205.00, for a total value of $205,000.00. Following the completion of the transaction, the director owned 3,465 shares of the company’s stock, valued at approximately $710,325. This represents a 22.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 523,716 shares of company stock valued at $92,212,379. Company insiders own 9.53% of the company’s stock.

Palantir Technologies Trading Down 0.5%

Shares of NASDAQ PLTR opened at $171.58 on Friday. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $212.94. The company has a market cap of $412.32 billion, a P/E ratio of 119.99, a P/E/G ratio of 3.48 and a beta of 1.65. The stock has a fifty day moving average price of $185.08 and a 200 day moving average price of $153.81.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.18 billion. Palantir Technologies had a return on equity of 30.49% and a net margin of 50.34%. The firm’s revenue was up 95.9% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 1.36 EPS for the current fiscal year.

About Palantir Technologies

Palantir Technologies is a software company that develops platforms for integrating, analyzing and using data to support operational decisions. Its products are designed to help organizations work with large, complex datasets while managing access and security. The company’s platforms include Gotham, used primarily by government and intelligence customers; Foundry, designed for commercial and other organizations; Apollo, which supports the deployment and management of software; and Artificial Intelligence Platform (AIP), which helps organizations use artificial intelligence with their data and operations.