Asahi Life Asset Management CO. LTD. Takes $673,000 Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Asahi Life Asset Management CO. LTD. bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, Holdings Channel reports. The institutional investor bought 8,900 shares of the company’s stock, valued at approximately $673,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLTR. Prestige Wealth Management Group LLC raised its holdings in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $27,000. First PREMIER Bank acquired a new stake in Palantir Technologies during the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its holdings in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the period. Finally, HighMark Wealth Management LLC lifted its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Northland Securities increased their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald raised their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Citigroup boosted their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Wedbush increased their target price on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Bank of America raised their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.21.

Insider Transactions at Palantir Technologies

In related news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,689,783 shares of company stock valued at $475,417,043. Insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $84.86 on Friday. The firm has a fifty day moving average of $87.09 and a two-hundred day moving average of $61.65. The firm has a market cap of $193.31 billion, a P/E ratio of 446.64, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 1-year low of $20.33 and a 1-year high of $125.41.

About Palantir Technologies

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.