Palantir Technologies Inc. (NASDAQ:PLTR) Shares Bought by Norden Group LLC

Key Points

• Norden Group LLC increased its stake in Palantir Technologies by 79.2%, acquiring an additional 4,160 shares during the first quarter, bringing its total holdings to 9,412 shares worth approximately $794,000.
• Insider Shyam Sankar sold 405,000 shares for over $53 million, representing a 36.56% decrease in his ownership of the company, while another director reduced their stake by 81.31%.
• Palantir Technologies' stock is currently down 0.6%, opening at $157.88 with a market cap of $372.58 billion and a P/E ratio of 686.43.

Norden Group LLC grew its position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 79.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,412 shares of the company's stock after purchasing an additional 4,160 shares during the period. Norden Group LLC's holdings in Palantir Technologies were worth $794,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its position in Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company's stock valued at $354,117,000 after buying an additional 3,907,022 shares during the period. Invesco Ltd. lifted its holdings in shares of Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. Capital World Investors purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at $253,816,000. Finally, Northern Trust Corp lifted its stake in Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company's stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on PLTR shares. DA Davidson upped their target price on Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Piper Sandler initiated coverage on Palantir Technologies in a report on Friday, July 25th. They set an "overweight" rating and a $170.00 price objective on the stock. Loop Capital increased their target price on Palantir Technologies from $155.00 to $178.00 and gave the company a "buy" rating in a research note on Wednesday. The Goldman Sachs Group increased their target price on Palantir Technologies from $80.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, UBS Group restated a "positive" rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of "Hold" and a consensus target price of $96.45.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 405,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider directly owned 702,786 shares of the company's stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David A. Glazer sold 3,418 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the transaction, the insider owned 492,079 shares in the company, valued at $61,987,191.63. The trade was a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,485,632 shares of company stock worth $191,222,623 in the last 90 days. 9.23% of the stock is owned by company insiders.

Palantir Technologies Stock Performance

Shares of PLTR traded down $3.11 on Friday, hitting $155.24. 43,282,929 shares of the stock traded hands, compared to its average volume of 92,415,617. The company has a market capitalization of $366.35 billion, a PE ratio of 672.60, a P/E/G ratio of 13.52 and a beta of 2.59. The business has a 50 day simple moving average of $139.76 and a 200 day simple moving average of $111.35. Palantir Technologies Inc. has a one year low of $21.23 and a one year high of $160.89.

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

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.