KLP Kapitalforvaltning AS Has $64.49 Million Stock Position in Palantir Technologies Inc. (NASDAQ:PLTR)

KLP Kapitalforvaltning AS lifted its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 11.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 764,100 shares of the company's stock after acquiring an additional 76,100 shares during the period. KLP Kapitalforvaltning AS's holdings in Palantir Technologies were worth $64,490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PLTR. Assenagon Asset Management S.A. raised its position in shares of Palantir Technologies by 15.0% during the first quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company's stock worth $4,191,000 after purchasing an additional 6,479 shares during the period. Pitcairn Co. bought a new position in Palantir Technologies in the 4th quarter valued at $281,000. Sagespring Wealth Partners LLC increased its holdings in shares of Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company's stock worth $2,030,000 after buying an additional 6,405 shares during the last quarter. CX Institutional purchased a new stake in Palantir Technologies in the first quarter worth approximately $62,000. Finally, Bessemer Group Inc. lifted its position in Palantir Technologies by 13.6% during the 1st quarter. Bessemer Group Inc. now owns 25,414 shares of the company's stock valued at $2,145,000 after acquiring an additional 3,050 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 2.6%

PLTR stock traded up $4.02 on Friday, hitting $158.88. 44,347,292 shares of the company's stock traded hands, compared to its average volume of 93,944,008. The stock has a market cap of $374.94 billion, a price-to-earnings ratio of 691.22, a P/E/G ratio of 13.20 and a beta of 2.59. Palantir Technologies Inc. has a 1-year low of $21.23 and a 1-year high of $160.39. The stock has a fifty day moving average of $136.44 and a 200-day moving average of $108.24.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million for the quarter, compared to the consensus estimate of $863.89 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The business's revenue was up 39.4% compared to the same quarter last year. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider David A. Glazer sold 30,812 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $126.39, for a total value of $3,894,328.68. Following the transaction, the insider owned 495,497 shares of the company's stock, valued at approximately $62,625,865.83. This trade represents a 5.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shyam Sankar sold 405,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total value of $53,492,400.00. Following the transaction, the insider owned 702,786 shares in the company, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,485,632 shares of company stock valued at $191,222,623. Insiders own 9.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLTR. Daiwa Capital Markets started coverage on shares of Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 target price for the company. Piper Sandler initiated coverage on shares of Palantir Technologies in a research report on Friday. They set an "overweight" rating and a $170.00 price target for the company. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. Citigroup lifted their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, Loop Capital set a $155.00 price target on Palantir Technologies and gave the company a "buy" rating in a research note on Thursday, June 12th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $95.30.

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.