Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. decreased its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR – Free Report) by 70.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,236 shares of the company’s stock after selling 9,907 shares during the period. Palantir Technologies makes up about 1.5% of Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s portfolio, making the stock its 9th largest position. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s holdings in Palantir Technologies were worth $620,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of the stock. Integrity Investment Advisors LLC raised its position in Palantir Technologies by 54.9% in the 1st quarter. Integrity Investment Advisors LLC now owns 1,952 shares of the company’s stock valued at $286,000 after buying an additional 692 shares during the last quarter. Demars Financial Group LLC boosted its holdings in Palantir Technologies by 41.3% during the 1st quarter. Demars Financial Group LLC now owns 1,883 shares of the company’s stock worth $275,000 after acquiring an additional 550 shares during the last quarter. Atlas Wealth Partners LLC grew its stake in shares of Palantir Technologies by 19.8% in the 1st quarter. Atlas Wealth Partners LLC now owns 1,515 shares of the company’s stock worth $222,000 after acquiring an additional 250 shares in the last quarter. Seelaus Asset Management LLC grew its stake in shares of Palantir Technologies by 37.5% in the 1st quarter. Seelaus Asset Management LLC now owns 2,475 shares of the company’s stock worth $362,000 after acquiring an additional 675 shares in the last quarter. Finally, DSM Capital Partners LLC raised its holdings in shares of Palantir Technologies by 42.5% in the first quarter. DSM Capital Partners LLC now owns 3,425 shares of the company’s stock valued at $501,000 after purchasing an additional 1,022 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.
Palantir Technologies Stock Down 1.6%
NASDAQ PLTR opened at $132.22 on Thursday. The company’s 50 day moving average is $133.05 and its 200-day moving average is $146.99. Palantir Technologies Inc. has a 12-month low of $106.37 and a 12-month high of $207.52. The firm has a market cap of $316.97 billion, a P/E ratio of 148.56, a price-to-earnings-growth ratio of 2.15 and a beta of 1.56.
Wall Street Analysts Forecast Growth
PLTR has been the topic of a number of recent analyst reports. HSBC lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating and dropped their price target for the company from $205.00 to $151.00 in a research report on Friday, May 1st. UBS Group upgraded shares of Palantir Technologies from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. Royal Bank Of Canada reissued an “underperform” rating and set a $90.00 target price on shares of Palantir Technologies in a research report on Tuesday, May 5th. DZ Bank began coverage on Palantir Technologies in a research note on Thursday, April 23rd. They issued a “buy” rating and a $175.00 target price on the stock. Finally, Citigroup upped their target price on Palantir Technologies from $210.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $190.85.
Read Our Latest Research Report on PLTR
Insider Buying and Selling at Palantir Technologies
In other Palantir Technologies news, insider Alexander C. Karp sold 397,744 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the sale, the insider owned 6,432,258 shares in the company, valued at $875,044,378.32. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lauren Elaina Friedman Stat sold 1,598 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $160.00, for a total value of $255,680.00. Following the completion of the transaction, the director directly owned 55,022 shares of the company’s stock, valued at $8,803,520. The trade was a 2.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,112,270 shares of company stock worth $150,247,785. Company insiders own 9.53% of the company’s stock.
Key Stories Impacting Palantir Technologies
Here are the key news stories impacting Palantir Technologies this week:
- Positive Sentiment: DA Davidson upgraded Palantir to Buy and set a higher price target, reinforcing the bullish case that the company’s AI platform and defense exposure can support further upside. This Wall Street Analyst Sees 30% Upside in Palantir. Is It Time to Buy the Stock?
- Positive Sentiment: Palantir expanded its commercial footprint in Latin America by signing Mexico’s largest insurer, GNP Seguros, its first publicly announced commercial customer in the region, which supports the growth narrative beyond U.S. government contracts. Palantir Expands Its Presence in Mexico and Strengthens Its AI Offering in the Insurance Sector with GNP Seguros
- Positive Sentiment: The company also announced a strategic partnership with SNP to accelerate secure SAP transformations, adding another enterprise-use-case win that could broaden adoption of Palantir’s platform. SNP and Palantir Form Strategic Partnership to Accelerate Secure SAP Transformations
- Neutral Sentiment: Several pieces highlighted Palantir’s growing AI and defense relevance, including its sovereign AI work with Nvidia and commentary that the company is becoming more deeply embedded in long-duration government programs. Nvidia and Palantir Are Bringing Sovereign AI to the U.S. Government. Here’s How.
- Negative Sentiment: Shares are sliding as investors worry about intensifying political scrutiny of Palantir’s government business, including reports of possible House action tied to its contracts and criticism of the company’s political posture. Palantir’s real weak spot
- Negative Sentiment: Broader AI and growth-stock weakness is also weighing on PLTR, as traders sell expensive software names amid concerns about slower AI adoption and stretched valuations. What Is Going on With Palantir Stock on Wednesday?
- Negative Sentiment: Recent insider selling, including a large sale by Shyam Sankar, has added to investor caution and reinforced worries that insiders may see the stock as fully valued. Insider trade filing
Palantir Technologies Profile
Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.
Palantir’s product portfolio centers on a small number of core platforms.
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