Mitsubishi UFJ Trust & Banking Corp Sells 24,757 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 2.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 919,052 shares of the company’s stock after selling 24,757 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Palantir Technologies were worth $69,508,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. State Street Corp boosted its position in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its stake 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 worth $1,777,568,000 after buying an additional 16,598,253 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Palantir Technologies by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,042,855 shares of the company’s stock worth $986,431,000 after acquiring an additional 655,815 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Palantir Technologies by 10.9% in the fourth quarter. Bank of New York Mellon Corp now owns 12,843,672 shares of the company’s stock valued at $971,367,000 after acquiring an additional 1,262,479 shares during the period. Finally, FMR LLC increased its holdings in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after acquiring an additional 1,004,603 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Down 0.2 %

NASDAQ:PLTR opened at $96.51 on Wednesday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The firm has a market capitalization of $226.35 billion, a price-to-earnings ratio of 507.97, a P/E/G ratio of 10.84 and a beta of 2.81. The stock’s 50 day moving average price is $90.80 and its two-hundred day moving average price is $68.37.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now directly owns 170,273 shares in the company, valued at $12,681,933.04. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,379,785 shares of company stock worth $281,528,938. Company insiders own 12.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PLTR. Northland Securities boosted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Citigroup upped their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Wedbush reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a research report on Monday, March 3rd. Royal Bank of Canada increased their target price on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, William Blair set a $84.00 price target on Palantir Technologies in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.45.

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.