DnB Asset Management AS Buys 19,515 Shares of Palantir Technologies Inc. (NASDAQ:PLTR)

DnB Asset Management AS boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 5.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 357,354 shares of the company’s stock after buying an additional 19,515 shares during the quarter. DnB Asset Management AS’s holdings in Palantir Technologies were worth $27,034,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% in the third 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 acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies during the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its stake in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its stake in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares of the company’s stock, valued at $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock worth $281,528,938 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLTR. Robert W. Baird upped their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Citigroup raised their target price on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Royal Bank of Canada lifted their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Mizuho increased their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $85.85 on Friday. The stock’s 50-day simple moving average is $91.98 and its 200 day simple moving average is $69.04. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The company has a market cap of $201.35 billion, a P/E ratio of 451.87, a P/E/G ratio of 10.84 and a beta of 2.81.

Palantir Technologies 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.