Palantir Technologies Inc. (NYSE:PLTR) Shares Bought by DNB Asset Management AS

by Atma
25/03/2023

DNB Asset Management AS increased its holdings in Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 250,718 shares of the company’s stock after purchasing an additional 3,341 shares during the quarter. DNB Asset Management AS’s holdings in Palantir Technologies were worth $1,610,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLTR. Vanguard Group Inc. increased its stake in Palantir Technologies by 22.4% during the 1st quarter. Vanguard Group Inc. now owns 156,003,743 shares of the company’s stock worth $2,141,931,000 after buying an additional 28,563,749 shares in the last quarter. Renaissance Technologies LLC increased its stake in Palantir Technologies by 125.4% during the 2nd quarter. Renaissance Technologies LLC now owns 28,204,147 shares of the company’s stock worth $255,812,000 after buying an additional 15,689,300 shares in the last quarter. Two Sigma Investments LP increased its stake in Palantir Technologies by 28,558.7% during the 3rd quarter. Two Sigma Investments LP now owns 13,265,535 shares of the company’s stock worth $107,849,000 after buying an additional 13,219,247 shares in the last quarter. Hyperion Asset Management Ltd purchased a new stake in Palantir Technologies during the 2nd quarter worth approximately $57,472,000. Finally, Woodline Partners LP purchased a new stake in Palantir Technologies during the 2nd quarter worth approximately $52,464,000. 31.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on PLTR. Citigroup reiterated a “sell” rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Friday, February 3rd. Credit Suisse Group restated a “neutral” rating and issued a $11.00 price target on shares of Palantir Technologies in a research report on Wednesday, February 15th. DA Davidson started coverage on Palantir Technologies in a research report on Tuesday, February 28th. They issued a “neutral” rating and a $8.00 price target for the company. Jefferies Financial Group lowered Palantir Technologies from a “buy” rating to a “hold” rating and dropped their price target for the company from $9.00 to $7.50 in a research report on Thursday, January 5th. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a research report on Thursday, February 23rd. Four equity research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.64.

Palantir Technologies Stock Performance

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Shares of Palantir Technologies stock opened at $8.20 on Friday. The firm has a market capitalization of $17.23 billion, a price-to-earnings ratio of -43.16, a PEG ratio of 3.20 and a beta of 2.87. Palantir Technologies Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $14.86. The stock has a 50 day moving average of $8.01 and a 200 day moving average of $7.67.

Palantir Technologies (NYSE:PLTR – Get Rating) last released its quarterly earnings results on Monday, February 13th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Palantir Technologies has a negative return on equity of 11.90% and a negative net margin of 19.61%. The company had revenue of $508.62 million for the quarter, compared to analysts’ expectations of $504.84 million. During the same period in the prior year, the firm earned $0.02 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. Analysts forecast that Palantir Technologies Inc. will post 0.05 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,000 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $7.85, for a total transaction of $54,950.00. Following the transaction, the director now directly owns 206,830 shares in the company, valued at $1,623,615.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via the SEC website. In other news, insider Ryan D. Taylor sold 153,049 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $10.07, for a total value of $1,541,203.43. Following the sale, the insider now directly owns 281,526 shares in the company, valued at $2,834,966.82. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 7,000 shares of the stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $7.85, for a total value of $54,950.00. Following the completion of the sale, the director now owns 206,830 shares in the company, valued at $1,623,615.50. The disclosure for this sale can be found here. Insiders have sold 191,562 shares of company stock worth $1,842,051 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

About Palantir Technologies

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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 facilitating the handoff between analysts and operational users, helping operators plan and execute real-time world responses to threats that have been identified within the platform.

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Institutional Ownership by Quarter for Palantir Technologies (NYSE:PLTR)

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DNB Asset Management AS increased its holdings in Palantir Technologies Inc. (NYSE:PLTR – Get Rating) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 250,718 shares of the company’s stock after purchasing an additional 3,341 shares during the quarter. DNB Asset Management AS’s holdings in Palantir Technologies were worth $1,610,000 at the end of the most recent reporting period. Several other large investors also recently bought and sold shares of PLTR. Vanguard Group Inc. increased its stake in Palantir Technologies by 22.4% during the…