Palantir Technologies Inc. (NASDAQ:PLTR) Stock Holdings Lifted by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 179.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,788 shares of the company’s stock after acquiring an additional 50,618 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Palantir Technologies were worth $5,959,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp lifted its position in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after buying an additional 2,984,348 shares during the period. Amundi grew its holdings in shares of Palantir Technologies by 62.7% during the fourth quarter. Amundi now owns 6,804,915 shares of the company’s stock valued at $514,656,000 after buying an additional 2,623,524 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Palantir Technologies by 226.2% during the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after buying an additional 1,969,213 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on PLTR. William Blair set a $84.00 target price on Palantir Technologies in a research note on Wednesday, March 5th. Royal Bank of Canada raised their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Citigroup upped their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Loop Capital decreased their target price on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Price Performance

Shares of Palantir Technologies stock opened at $96.51 on Wednesday. The company has a market cap of $226.35 billion, a PE ratio of 507.97, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The firm has a fifty day moving average price of $90.80 and a two-hundred day moving average price of $68.37. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $51,545.44. This trade represents a 99.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,379,785 shares of company stock worth $281,528,938. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Company 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.