Rakuten Securities Inc. Makes New Investment in Palantir Technologies Inc. (NYSE:PLTR)

Rakuten Securities Inc. purchased a new stake in shares of Palantir Technologies Inc. (NYSE:PLTR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 111,213 shares of the company’s stock, valued at approximately $1,910,000. Palantir Technologies comprises approximately 1.5% of Rakuten Securities Inc.’s holdings, making the stock its 14th biggest position.

Other institutional investors have also made changes to their positions in the company. Qsemble Capital Management LP bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $1,178,000. Trexquant Investment LP acquired a new stake in Palantir Technologies in the 3rd quarter valued at $4,446,000. Victory Capital Management Inc. boosted its stake in Palantir Technologies by 3.9% in the third quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock worth $10,959,000 after purchasing an additional 25,787 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Palantir Technologies by 10.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after purchasing an additional 116,220 shares in the last quarter. Finally, Korea Investment CORP boosted its stake in Palantir Technologies by 148.4% in the third quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock worth $3,103,000 after purchasing an additional 115,876 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 price target on shares of Palantir Technologies in a research note on Tuesday, February 6th. Bank of America lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their price target for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Finally, Raymond James lifted their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average price target of $18.35.

Palantir Technologies Stock Down 0.1 %

Shares of PLTR stock traded down $0.02 on Wednesday, reaching $21.88. The company’s stock had a trading volume of 33,869,201 shares, compared to its average volume of 36,256,228. The company has a market capitalization of $48.41 billion, a P/E ratio of 243.11, a PEG ratio of 5.37 and a beta of 2.78. Palantir Technologies Inc. has a 12-month low of $7.28 and a 12-month high of $27.50. The stock’s 50 day simple moving average is $23.96 and its 200-day simple moving average is $19.80.

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

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the transaction, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the sale, the director now directly owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the transaction, the insider now directly owns 181,460 shares in the company, valued at $4,355,040. The disclosure for this sale can be found here. Insiders sold a total of 7,456,273 shares of company stock worth $184,343,202 in the last three months. Insiders own 13.96% of the company’s stock.

Palantir Technologies Company 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.