DNB Asset Management AS Sells 398,824 Shares of Palantir Technologies Inc. (NYSE:PLTR)

DNB Asset Management AS cut its stake in Palantir Technologies Inc. (NYSE:PLTR) by 52.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 354,742 shares of the company’s stock after selling 398,824 shares during the period. DNB Asset Management AS’s holdings in Palantir Technologies were worth $8,986,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PLTR. Pursue Wealth Partners LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $1,741,000. Vanguard Group Inc. raised its stake in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after buying an additional 6,466,596 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Palantir Technologies by 183.3% in the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after buying an additional 102,479 shares in the last quarter. Accel Wealth Management acquired a new position in shares of Palantir Technologies in the 1st quarter valued at $360,000. Finally, Panagora Asset Management Inc. raised its stake in shares of Palantir Technologies by 185.6% in the 4th quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock valued at $1,317,000 after buying an additional 49,839 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 10,907 shares of Palantir Technologies stock in a transaction on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the completion of the transaction, the insider now directly owns 651,099 shares of the company’s stock, valued at $13,953,051.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Heather A. Planishek sold 10,907 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $21.43, for a total value of $233,737.01. Following the completion of the sale, the insider now owns 651,099 shares of the company’s stock, valued at $13,953,051.57. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at approximately $8,749,632.32. The disclosure for this sale can be found here. Insiders sold a total of 11,450,229 shares of company stock valued at $242,366,525 over the last ninety days. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Performance

PLTR traded up $2.50 during trading on Tuesday, reaching $26.59. 99,131,414 shares of the stock were exchanged, compared to its average volume of 55,024,477. The stock has a market cap of $59.21 billion, a P/E ratio of 225.58, a price-to-earnings-growth ratio of 6.02 and a beta of 2.71. Palantir Technologies Inc. has a twelve month low of $13.68 and a twelve month high of $29.83. The stock’s 50 day moving average price is $25.43 and its two-hundred day moving average price is $23.39.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The firm had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. Equities research analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PLTR shares. Monness Crespi & Hardt dropped their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday. Argus began coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday. Citigroup raised their target price on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, DA Davidson lifted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and an average target price of $22.54.

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.