Nomura Asset Management Co. Ltd. Boosts Stock Position in Palantir Technologies Inc. (NYSE:PLTR)

Nomura Asset Management Co. Ltd. lifted its position in Palantir Technologies Inc. (NYSE:PLTR) by 15.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 627,347 shares of the company’s stock after purchasing an additional 85,985 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Palantir Technologies were worth $23,337,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Palantir Technologies in the 2nd quarter worth approximately $30,000. Finally, Ashburton Jersey Ltd acquired a new stake in shares of Palantir Technologies during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLTR. DA Davidson increased their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Mizuho raised their price objective on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies Price Performance

PLTR stock opened at $70.89 on Wednesday. Palantir Technologies Inc. has a 1 year low of $15.66 and a 1 year high of $80.91. The firm has a market capitalization of $161.49 billion, a PE ratio of 354.45, a price-to-earnings-growth ratio of 10.29 and a beta of 2.87. The business has a 50 day simple moving average of $52.96 and a 200-day simple moving average of $37.16.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. On average, equities research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Activity

In other news, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $66.59, for a total value of $1,997,700.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $50,128,019.74. This represents a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the sale, the director now owns 152,280 shares of the company’s stock, valued at $5,535,378. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,407,852 shares of company stock valued at $1,972,536,217 in the last 90 days. Company insiders own 12.93% of the company’s stock.

About Palantir Technologies

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.