DnB Asset Management AS Buys 4,019 Shares of Palantir Technologies Inc. $PLTR

Key Points

• DnB Asset Management AS increased its stake in Palantir Technologies by 1.1%, acquiring an additional 4,019 shares, bringing its total holdings to 361,373 shares valued at approximately $30.5 million.
• Palantir Technologies reported $1 billion in revenue for the recent quarter, surpassing analyst expectations, with earnings per share of $0.16, which also beat estimates.
• Several analysts provided mixed ratings for Palantir, with price targets ranging from $45.00 to $200.00, indicating varying market expectations for the company's performance.

DnB Asset Management AS raised its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 361,373 shares of the company's stock after purchasing an additional 4,019 shares during the period. DnB Asset Management AS's holdings in Palantir Technologies were worth $30,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of PLTR. Assenagon Asset Management S.A. grew its stake in shares of Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after acquiring an additional 6,479 shares during the period. Garrison Bradford & Associates Inc. purchased a new stake in Palantir Technologies during the first quarter valued at about $45,000. Menard Financial Group LLC boosted its position in Palantir Technologies by 8.2% during the first quarter. Menard Financial Group LLC now owns 25,938 shares of the company's stock worth $2,189,000 after purchasing an additional 1,964 shares during the period. TCW Group Inc. increased its stake in shares of Palantir Technologies by 14.5% in the first quarter. TCW Group Inc. now owns 32,031 shares of the company's stock worth $2,703,000 after purchasing an additional 4,068 shares in the last quarter. Finally, Sagespring Wealth Partners LLC increased its stake in shares of Palantir Technologies by 36.3% in the first quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after purchasing an additional 6,405 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 0.8%

Palantir Technologies stock opened at $156.14 on Friday. The stock has a market cap of $370.42 billion, a price-to-earnings ratio of 520.48, a PEG ratio of 8.73 and a beta of 2.59. The business has a 50-day simple moving average of $156.55 and a 200 day simple moving average of $124.44. Palantir Technologies Inc. has a 52 week low of $29.50 and a 52 week high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. During the same period in the prior year, the business earned $0.09 earnings per share. Palantir Technologies's revenue for the quarter was up 48.0% compared to the same quarter last year. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 160,164 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $155.75, for a total value of $24,945,543.00. Following the transaction, the insider owned 592 shares of the company's stock, valued at $92,204. This represents a 99.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Glazer sold 81,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $154.47, for a total value of $12,512,070.00. Following the sale, the insider owned 431,169 shares in the company, valued at $66,602,675.43. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,990,586 shares of company stock worth $295,423,583 in the last three months. 9.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PLTR. Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Royal Bank Of Canada increased their target price on Palantir Technologies from $40.00 to $45.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Bank of America boosted their price objective on Palantir Technologies from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Loop Capital raised their target price on Palantir Technologies from $178.00 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $136.61.

About Palantir Technologies

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.

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