China Universal Asset Management Co. Ltd. Increases Stake in Palantir Technologies Inc. $PLTR

China Universal Asset Management Co. Ltd. raised its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 18.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,689 shares of the company’s stock after buying an additional 12,447 shares during the quarter. Palantir Technologies comprises about 1.0% of China Universal Asset Management Co. Ltd.’s portfolio, making the stock its 19th biggest holding. China Universal Asset Management Co. Ltd.’s holdings in Palantir Technologies were worth $10,863,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after acquiring an additional 7,194,216 shares in the last quarter. State Street Corp lifted its stake in Palantir Technologies by 6.9% in the 2nd quarter. State Street Corp now owns 94,481,128 shares of the company’s stock worth $12,879,667,000 after purchasing an additional 6,097,629 shares in the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies during the 2nd quarter worth approximately $3,307,457,000. Invesco Ltd. grew its position in shares of Palantir Technologies by 16.0% in the second quarter. Invesco Ltd. now owns 20,585,256 shares of the company’s stock valued at $2,806,182,000 after purchasing an additional 2,838,300 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Palantir Technologies by 0.3% in the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock valued at $1,650,310,000 after purchasing an additional 64,973 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PLTR. Jefferies Financial Group reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. CICC Research raised their target price on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Citigroup boosted their price target on shares of Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Palantir Technologies in a report on Monday, December 8th. Finally, Daiwa Capital Markets lifted their target price on shares of Palantir Technologies from $178.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $172.28.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 15,557 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $2,551,192.43. Following the sale, the insider owned 415,612 shares of the company’s stock, valued at approximately $68,156,211.88. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 149,872 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $24,577,509.28. Following the completion of the transaction, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $105,410,476.14. The trade was a 18.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,008,844 shares of company stock worth $164,676,161 over the last ninety days. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 2.1%

Shares of NASDAQ:PLTR opened at $183.57 on Monday. The company has a market capitalization of $437.53 billion, a price-to-earnings ratio of 437.08, a PEG ratio of 7.12 and a beta of 1.50. Palantir Technologies Inc. has a 12-month low of $63.40 and a 12-month high of $207.52. The business has a 50-day moving average price of $179.31 and a 200 day moving average price of $163.90.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $0.10 earnings per share. Palantir Technologies’s revenue was up 62.8% compared to the same quarter last year. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

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.