DnB Asset Management AS Has $2.35 Million Holdings in Palantir Technologies Inc. (NYSE:PLTR)

DnB Asset Management AS lifted its holdings in Palantir Technologies Inc. (NYSE:PLTRGet Rating) by 8.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,766 shares of the company’s stock after acquiring an additional 19,347 shares during the quarter. DnB Asset Management AS’s holdings in Palantir Technologies were worth $2,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Laidlaw Wealth Management LLC raised its position in Palantir Technologies by 0.9% in the 4th quarter. Laidlaw Wealth Management LLC now owns 81,979 shares of the company’s stock worth $1,493,000 after purchasing an additional 745 shares during the last quarter. Joel Isaacson & Co. LLC boosted its stake in Palantir Technologies by 3.7% in the 1st quarter. Joel Isaacson & Co. LLC now owns 24,931 shares of the company’s stock worth $303,000 after purchasing an additional 886 shares during the period. Baystate Wealth Management LLC boosted its stake in Palantir Technologies by 12.0% in the 1st quarter. Baystate Wealth Management LLC now owns 8,400 shares of the company’s stock worth $115,000 after purchasing an additional 900 shares during the period. Lindbrook Capital LLC boosted its stake in Palantir Technologies by 13.5% in the 1st quarter. Lindbrook Capital LLC now owns 7,610 shares of the company’s stock worth $104,000 after purchasing an additional 905 shares during the period. Finally, Winfield Associates Inc. boosted its stake in Palantir Technologies by 2.2% in the 1st quarter. Winfield Associates Inc. now owns 43,000 shares of the company’s stock worth $590,000 after purchasing an additional 925 shares during the period. 30.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLTR has been the subject of a number of research analyst reports. Raymond James initiated coverage on shares of Palantir Technologies in a research note on Thursday, July 21st. They issued a “strong-buy” rating and a $20.00 target price for the company. Credit Suisse Group reduced their target price on shares of Palantir Technologies to $11.00 in a research note on Monday, August 15th. Bank of America initiated coverage on shares of Palantir Technologies in a research note on Tuesday, June 21st. They issued a “buy” rating and a $13.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of Palantir Technologies from a “hold” rating to a “sell” rating and reduced their target price for the stock from $11.00 to $8.00 in a research note on Tuesday, August 9th. Finally, Morgan Stanley reduced their target price on shares of Palantir Technologies from $13.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 9th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.83.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $7.62 on Wednesday. The firm has a 50-day moving average of $8.92 and a 200-day moving average of $9.90. Palantir Technologies Inc. has a one year low of $6.44 and a one year high of $29.19.

Palantir Technologies (NYSE:PLTRGet Rating) last issued its earnings results on Monday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Palantir Technologies had a negative net margin of 30.90% and a positive return on equity of 0.06%. The firm had revenue of $473.00 million during the quarter, compared to analyst estimates of $471.72 million. During the same quarter last year, the business posted $0.04 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. Analysts forecast that Palantir Technologies Inc. will post -0.2 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 77,607 shares of the firm’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $10.11, for a total value of $784,606.77. Following the completion of the sale, the insider now directly owns 606,526 shares in the company, valued at approximately $6,131,977.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ryan D. Taylor sold 77,607 shares of the firm’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $10.11, for a total value of $784,606.77. Following the completion of the sale, the insider now directly owns 606,526 shares in the company, valued at approximately $6,131,977.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander D. Moore sold 37,076 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $9.20, for a total transaction of $341,099.20. Following the completion of the sale, the director now owns 1,923,852 shares of the company’s stock, valued at $17,699,438.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,794 shares of company stock worth $4,052,368. Insiders own 13.22% of the company’s stock.

Palantir Technologies Profile

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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 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.

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

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