Norges Bank Purchases Shares of 28,971,257 Palantir Technologies Inc. $PLTR

Key Points

• Norges Bank disclosed a new fourth-quarter position in Palantir, buying 28,971,257 shares worth about $5.15 billion. The stake represents roughly 1.22% of Palantir and makes PLTR Norges Bank’s 23rd-largest holding.
• Other institutional investors also increased exposure, while overall institutional ownership stands at 45.65% of the company. Meanwhile, insiders sold shares last quarter, including notable sales by Ryan D. Taylor and Jeffrey Buckley.
• Palantir continues to draw bullish analyst and market attention after strong quarterly results, with revenue up 84.7% year over year and EPS beating estimates. The stock was also reported trading up 9.2%, reflecting ongoing momentum tied to AI-related optimism.

Norges Bank acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,971,257 shares of the company's stock, valued at approximately $5,149,641,000. Palantir Technologies comprises 0.6% of Norges Bank's portfolio, making the stock its 23rd biggest holding. Norges Bank owned 1.22% of Palantir Technologies at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PLTR. Milestone Asset Management LLC boosted its position in Palantir Technologies by 229.5% in the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company's stock valued at $10,763,000 after buying an additional 42,173 shares during the period. VCI Wealth Management LLC boosted its position in Palantir Technologies by 42.3% in the 4th quarter. VCI Wealth Management LLC now owns 12,187 shares of the company's stock valued at $2,166,000 after buying an additional 3,621 shares during the period. Public Sector Pension Investment Board boosted its position in Palantir Technologies by 135.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 540,835 shares of the company's stock valued at $98,659,000 after buying an additional 310,942 shares during the period. Vanguard Group Inc. boosted its position in Palantir Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company's stock valued at $38,295,188,000 after buying an additional 1,557,828 shares during the period. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in Palantir Technologies in the 4th quarter valued at approximately $222,143,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 19,662 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total value of $2,674,818.48. Following the completion of the sale, the insider directly owned 199,759 shares of the company's stock, valued at $27,175,214.36. The trade was a 8.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jeffrey Buckley sold 830 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $137.41, for a total transaction of $114,050.30. Following the completion of the sale, the insider directly owned 61,707 shares of the company's stock, valued at approximately $8,479,158.87. This trade represents a 1.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 922,524 shares of company stock valued at $125,501,302 over the last quarter. 9.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on PLTR. HSBC cut shares of Palantir Technologies from a "buy" rating to a "hold" rating and decreased their price target for the company from $205.00 to $151.00 in a research report on Friday, May 1st. William Blair raised shares of Palantir Technologies from a "market perform" rating to an "outperform" rating in a research report on Monday, February 2nd. Argus raised shares of Palantir Technologies from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a research report on Wednesday, May 6th. Northland Securities raised shares of Palantir Technologies from a "market perform" rating to an "outperform" rating and set a $190.00 price objective for the company in a research report on Tuesday, February 3rd. Finally, Phillip Securities lifted their price objective on shares of Palantir Technologies from $190.00 to $202.00 in a research report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Palantir Technologies presently has an average rating of "Moderate Buy" and an average target price of $192.76.

Palantir Technologies Trading Up 9.2%

Palantir Technologies stock opened at $156.54 on Friday. The stock has a market cap of $375.28 billion, a P/E ratio of 175.89, a price-to-earnings-growth ratio of 2.27 and a beta of 1.52. The company has a fifty day simple moving average of $141.70 and a 200-day simple moving average of $156.13. Palantir Technologies Inc. has a 12-month low of $118.93 and a 12-month high of $207.52.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.54 billion. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The company's revenue for the quarter was up 84.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 1.18 earnings per share for the current fiscal year.

Key Stories Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Investors are bidding up PLTR after Dell’s blockbuster earnings helped validate Palantir’s AI Factory partnership, reinforcing confidence in enterprise AI spending and lifting software names broadly. PLTR Stock Alert: Why Palantir Is Getting a Boost from Dell Earnings
• Positive Sentiment: Strong demand for AI software is also supporting PLTR, with articles pointing to renewed optimism across the sector after Snowflake’s results and a broader rebound in software stocks. Palantir Stock Is Having Its Best Day in a Year. Software Looks Like a Buy Again.
• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside, adding to momentum in the shares.
• Positive Sentiment: Several pieces highlighted improving technicals, including a possible structural bottom and trend reversal, which can attract momentum and algorithmic buyers. Palantir (PLTR) Price Forecast: Structural Bottom Signals Trend Reversal
• Neutral Sentiment: Analyst-related commentary noted upside potential from current price targets and recent earnings estimate revisions, but this is more supportive than a direct stock-moving catalyst. Does Palantir Technologies (PLTR) Have the Potential to Rally 35.91% as Wall Street Analysts Expect?

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir's product portfolio centers on a small number of core platforms.

Want to see what other hedge funds are holding PLTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palantir Technologies Inc. (NASDAQ:PLTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.