Norges Bank Invests $1.36 Billion in Palantir Technologies Inc. (NASDAQ:PLTR)

Norges Bank purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,984,806 shares of the company's stock, valued at approximately $1,360,191,000. Norges Bank owned 0.79% of Palantir Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prestige Wealth Management Group LLC boosted its position in shares of 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 acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC bought a new stake in Palantir Technologies during the fourth quarter valued at approximately $27,000. First PREMIER Bank purchased a new position in Palantir Technologies in the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC increased its holdings in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after buying an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its position in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Baird R W raised Palantir Technologies to a "hold" rating in a research note on Thursday, December 12th. Loop Capital decreased their price objective 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 upped their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Morgan Stanley upgraded shares of Palantir Technologies from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Finally, William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $74.45.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded down $4.24 during midday trading on Friday, reaching $85.85. 90,823,164 shares of the company's stock traded hands, compared to its average volume of 67,978,339. The company has a market cap of $201.35 billion, a PE ratio of 451.87, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The stock has a 50 day moving average of $91.98 and a 200-day moving average of $69.28. Palantir Technologies Inc. has a 12 month low of $20.33 and a 12 month high of $125.41.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction 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 owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $26,991,700.00. Following the completion of the transaction, the insider now owns 592 shares of the company's stock, valued at approximately $51,545.44. The trade was a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,379,785 shares of company stock valued at $281,528,938. Company insiders own 12.93% of the company's stock.

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.