17,984,806 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Purchased by Norges Bank

Norges Bank bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the fourth quarter, HoldingsChannel.com reports. The fund bought 17,984,806 shares of the company’s stock, valued at approximately $1,360,191,000.

A number of other institutional investors have also modified their holdings of the company. Prestige Wealth Management Group LLC grew its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at $28,000. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC lifted 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 buying an additional 166 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $48,988. This trade represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,379,785 shares of company stock worth $281,528,938. 12.93% of the stock is currently owned by company insiders.

Palantir Technologies Stock Down 4.4 %

PLTR opened at $92.28 on Thursday. The company’s 50-day moving average price is $91.28 and its 200 day moving average price is $68.54. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm has a market cap of $216.43 billion, a price-to-earnings ratio of 485.71, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Analysts Set New Price Targets

A number of research firms recently issued reports on PLTR. Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Citigroup upped their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada lifted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.