Mirae Asset Global Investments Co. Ltd. Raises Position in Palantir Technologies Inc. (NYSE:PLTR)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Palantir Technologies Inc. (NYSE:PLTR) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,967 shares of the company’s stock after purchasing an additional 2,604 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Palantir Technologies were worth $789,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fiduciary Alliance LLC lifted its stake in shares of Palantir Technologies by 1.0% in the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after purchasing an additional 618 shares during the period. Founders Financial Securities LLC lifted its holdings in shares of Palantir Technologies by 4.7% in the third quarter. Founders Financial Securities LLC now owns 15,369 shares of the company’s stock valued at $246,000 after purchasing an additional 690 shares in the last quarter. Truvestments Capital LLC lifted its holdings in shares of Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after purchasing an additional 700 shares in the last quarter. Everhart Financial Group Inc. lifted its holdings in shares of Palantir Technologies by 6.1% in the fourth quarter. Everhart Financial Group Inc. now owns 12,730 shares of the company’s stock valued at $219,000 after purchasing an additional 734 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in shares of Palantir Technologies by 4.3% in the third quarter. Yousif Capital Management LLC now owns 18,227 shares of the company’s stock valued at $292,000 after purchasing an additional 750 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $21.58 on Thursday. The firm’s 50-day moving average is $23.57 and its 200-day moving average is $20.00. Palantir Technologies Inc. has a 1 year low of $7.28 and a 1 year high of $27.50. The company has a market cap of $47.75 billion, a P/E ratio of 239.80, a PEG ratio of 5.14 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the transaction, the director now directly owns 186,783 shares in the company, valued at approximately $4,247,445.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the sale, the director now owns 186,783 shares of the company’s stock, valued at approximately $4,247,445.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 29,168 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $18,819,650. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent research reports. Mizuho upped their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Monness Crespi & Hardt lowered shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a research report on Thursday, March 28th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and upped their price target for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Wedbush reaffirmed an “outperform” rating and set a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 price target on shares of Palantir Technologies in a research report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average price target of $18.35.

Palantir Technologies 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.