DnB Asset Management AS Has $27.03 Million Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

DnB Asset Management AS lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 357,354 shares of the company’s stock after purchasing an additional 19,515 shares during the period. DnB Asset Management AS’s holdings in Palantir Technologies were worth $27,034,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its position in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Norges Bank bought a new position in Palantir Technologies during the fourth quarter worth about $1,360,191,000. Geode Capital Management LLC raised its stake in Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in Palantir Technologies by 943.2% in the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares during the period. Finally, Amundi grew its position in shares of Palantir Technologies by 62.7% during the 4th quarter. Amundi now owns 6,804,915 shares of the company’s stock worth $514,656,000 after purchasing an additional 2,623,524 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of analyst reports. Royal Bank of Canada lifted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Citigroup lifted their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Loop Capital reduced their target price on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. DA Davidson boosted their price target on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average price target of $74.45.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 310,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $51,545.44. This represents a 99.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 483,987 shares of Palantir Technologies stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the transaction, the insider now directly owns 170,273 shares in the company, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,379,785 shares of company stock worth $281,528,938. Company insiders own 12.93% of the company’s stock.

Palantir Technologies Price Performance

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

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.