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

DnB Asset Management AS boosted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,354 shares of the company's stock after acquiring an additional 19,515 shares during the period. DnB Asset Management AS's holdings in Palantir Technologies were worth $27,034,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Prestige Wealth Management Group LLC boosted its stake in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock valued at $27,000 after purchasing an additional 650 shares during the period. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC grew its stake in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after acquiring an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC increased its position in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares during the period. 45.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the sale, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ryan D. Taylor sold 483,987 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total value of $36,047,351.76. Following the completion of the sale, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is currently owned by corporate insiders.

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Palantir Technologies Stock Performance

Shares of NASDAQ PLTR traded down $2.30 during trading on Monday, reaching $83.55. The company had a trading volume of 91,651,339 shares, compared to its average volume of 68,085,199. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The business's 50 day moving average price is $91.98 and its 200-day moving average price is $69.53. The stock has a market cap of $195.95 billion, a PE ratio of 440.24, a PEG ratio of 10.84 and a beta of 2.81.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Northland Securities boosted their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a "market perform" rating in a research note on Tuesday, February 4th. Citigroup raised their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. Morgan Stanley upgraded Palantir Technologies from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Finally, DA Davidson raised their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Hold" and a consensus price target of $74.45.

Palantir Technologies Company 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.