Palantir Technologies Inc. (NASDAQ:PLTR) Stake Lowered by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in Palantir Technologies by 15.3%, leaving it with 284,223 shares valued at approximately $23.99 million.
• Insider Alexander C. Karp sold 358,982 shares of Palantir stock valued at over $45 million, resulting in a 5.29% decrease in his position.
• Palantir's stock currently has an average target price of $136.61 and a majority rating of "Hold" from analysts, with varying target prices ranging from $45.00 to $170.00.

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its holdings in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284,223 shares of the company's stock after selling 51,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Palantir Technologies were worth $23,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allegiance Financial Group Advisory Services LLC raised its position in shares of Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock worth $246,000 after buying an additional 84 shares during the period. Sovran Advisors LLC raised its position in shares of Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock worth $460,000 after buying an additional 94 shares during the period. Lodestone Wealth Management LLC raised its position in shares of Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock worth $755,000 after buying an additional 97 shares during the period. Continuum Advisory LLC raised its position in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after buying an additional 98 shares during the period. Finally, Kathmere Capital Management LLC raised its position in shares of Palantir Technologies by 0.5% in the 1st quarter. Kathmere Capital Management LLC now owns 18,145 shares of the company's stock worth $1,531,000 after buying an additional 99 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

PLTR traded down $3.35 during trading on Thursday, hitting $181.02. The company had a trading volume of 53,317,061 shares, compared to its average volume of 60,054,936. The company has a market cap of $427.19 billion, a PE ratio of 603.42, a P/E/G ratio of 10.39 and a beta of 2.60. The business has a 50-day moving average of $150.04 and a 200-day moving average of $118.54. Palantir Technologies Inc. has a 1-year low of $29.31 and a 1-year high of $190.00.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The company's revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. Research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on PLTR. DA Davidson set a $170.00 target price on Palantir Technologies and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Loop Capital increased their price target on Palantir Technologies from $178.00 to $180.00 and gave the company a "buy" rating in a 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 report on Tuesday, August 5th. The Goldman Sachs Group increased their price target on Palantir Technologies from $90.00 to $141.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, Mizuho upgraded Palantir Technologies from an "underperform" rating to a "neutral" rating and increased their price target for the company from $116.00 to $135.00 in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and an average price target of $136.61.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the completion of the sale, the director directly owned 62,887 shares of the company's stock, valued at $8,779,654.07. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Glazer sold 3,418 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total value of $430,565.46. Following the completion of the sale, the insider directly owned 492,079 shares of the company's stock, valued at approximately $61,987,191.63. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,515,632 shares of company stock valued at $196,472,623 over the last 90 days. Corporate insiders own 9.23% of the company's stock.

Palantir Technologies 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.