Tredje AP fonden Decreases Position in Palantir Technologies Inc. (NYSE:PLTR)

Tredje AP fonden trimmed its stake in Palantir Technologies Inc. (NYSE:PLTR) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 298,273 shares of the company’s stock after selling 4,667 shares during the period. Tredje AP fonden’s holdings in Palantir Technologies were worth $7,555,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLTR. Vanguard Group Inc. raised its position in Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of Palantir Technologies by 248,208.2% during the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock worth $83,418,000 after acquiring an additional 3,623,840 shares during the last quarter. Norges Bank bought a new position in Palantir Technologies in the 4th quarter valued at $46,542,000. Coatue Management LLC increased its stake in Palantir Technologies by 285.6% in the fourth quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock worth $59,191,000 after purchasing an additional 2,553,432 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after purchasing an additional 1,980,495 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction on Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the sale, the director now directly owns 69,039 shares in the company, valued at $2,000,059.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,383,238 shares of company stock valued at $190,231,672. 12.93% of the stock is currently owned by corporate insiders.

Palantir Technologies Stock Down 0.1 %

Shares of Palantir Technologies stock opened at $36.40 on Thursday. The company has a market cap of $81.06 billion, a P/E ratio of 303.33, a PEG ratio of 6.16 and a beta of 2.72. The firm’s 50 day moving average price is $30.20 and its 200-day moving average price is $25.74. Palantir Technologies Inc. has a 52-week low of $13.68 and a 52-week high of $37.11.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 earnings per share. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Analyst Ratings Changes

PLTR has been the topic of several recent analyst reports. DA Davidson raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Wedbush reiterated an “outperform” rating and issued a $38.00 price target on shares of Palantir Technologies in a report on Monday, September 9th. Northland Securities initiated coverage on Palantir Technologies in a research report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price for the company. Mizuho downgraded Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $21.00 to $22.00 in a research report on Tuesday, July 16th. Finally, Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Profile

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.