BI Asset Management Fondsmaeglerselskab A S Lowers Stake in Palantir Technologies Inc. (NYSE:PLTR)

BI Asset Management Fondsmaeglerselskab A S cut its position in shares of Palantir Technologies Inc. (NYSE:PLTR) by 17.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,042 shares of the company’s stock after selling 11,220 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Palantir Technologies were worth $1,197,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PLTR. Vanguard Group Inc. raised its holdings in Palantir Technologies by 11.1% in the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after buying an additional 18,756,392 shares during the period. Morgan Stanley raised its stake in shares of Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after acquiring an additional 4,675,824 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Palantir Technologies by 1,784.0% during the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock valued at $49,720,000 after acquiring an additional 2,742,071 shares in the last quarter. Norges Bank purchased a new stake in Palantir Technologies during the 4th quarter worth $46,542,000. Finally, Coatue Management LLC increased its holdings in Palantir Technologies by 285.6% in the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock valued at $59,191,000 after purchasing an additional 2,553,432 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 10,907 shares of the 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 sale, the insider now directly owns 651,099 shares of the company’s stock, valued at $13,953,051.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Eric H. Woersching sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the sale, the director now owns 32,843 shares of the company’s stock, valued at approximately $853,918. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek sold 10,907 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $21.43, for a total value of $233,737.01. Following the transaction, the insider now owns 651,099 shares of the company’s stock, valued at $13,953,051.57. The disclosure for this sale can be found here. Insiders sold a total of 11,372,153 shares of company stock valued at $239,941,245 over the last 90 days. 12.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PLTR shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Tuesday, May 7th. Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a report on Friday, June 21st. HSBC lifted their price objective on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. Wedbush restated an “outperform” rating and issued a $35.00 target price on shares of Palantir Technologies in a research note on Monday, May 6th. Finally, DA Davidson raised their price target on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $21.25.

Palantir Technologies Stock Performance

Shares of PLTR stock traded up $0.26 during trading hours on Wednesday, hitting $27.65. 11,375,173 shares of the company were exchanged, compared to its average volume of 55,704,063. The stock has a market capitalization of $61.57 billion, a price-to-earnings ratio of 229.77, a P/E/G ratio of 6.40 and a beta of 2.71. Palantir Technologies Inc. has a one year low of $13.68 and a one year high of $28.38. The business’s 50-day simple moving average is $23.28 and its two-hundred day simple moving average is $21.97.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Palantir Technologies Company 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.