Tokio Marine Asset Management Co. Ltd. Increases Stock Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Tokio Marine Asset Management Co. Ltd. increased its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 7.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,251 shares of the company’s stock after buying an additional 4,123 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Palantir Technologies were worth $2,204,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America boosted their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Finally, Wedbush boosted their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.71.

Palantir Technologies Price Performance

Shares of PLTR opened at $59.19 on Friday. Palantir Technologies Inc. has a 1-year low of $15.66 and a 1-year high of $63.39. The firm has a 50 day simple moving average of $41.90 and a 200-day simple moving average of $31.45. The stock has a market cap of $132.55 billion, a price-to-earnings ratio of 295.96 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data 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 the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, equities analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 14,016 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the sale, the insider now directly owns 576,023 shares of the company’s stock, valued at $17,666,625.41. The trade was a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,239,238 shares of company stock worth $1,036,731,557 over the last three months. 12.93% of the stock is owned by insiders.

Palantir Technologies Company Profile

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.