Palantir Technologies Inc. (NASDAQ:PLTR) Stake Lowered by Nordea Investment Management AB

Nordea Investment Management AB cut its stake in Palantir Technologies Inc. (NASDAQ:PLTR) by 4.2% during the fourth quarter, HoldingsChannel reports. The fund owned 1,010,247 shares of the company’s stock after selling 44,690 shares during the quarter. Nordea Investment Management AB’s holdings in Palantir Technologies were worth $77,506,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Franchise Capital Ltd acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at about $3,601,000. GAMMA Investing LLC raised its position in Palantir Technologies by 124.8% during the fourth quarter. GAMMA Investing LLC now owns 12,843 shares of the company’s stock valued at $971,000 after acquiring an additional 7,130 shares in the last quarter. Versant Capital Management Inc raised its position in Palantir Technologies by 52.6% during the fourth quarter. Versant Capital Management Inc now owns 4,480 shares of the company’s stock valued at $339,000 after acquiring an additional 1,544 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Palantir Technologies by 226.2% in the third quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after acquiring an additional 1,969,213 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after acquiring an additional 2,984,348 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ryan D. Taylor sold 123,334 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the completion of the sale, the insider now owns 331,369 shares in the company, valued at $14,911,605. This represents a 27.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,645,510 shares of company stock valued at $1,444,267,325 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Trading Down 7.8 %

Shares of PLTR stock opened at $69.99 on Wednesday. The company has a market capitalization of $159.44 billion, a P/E ratio of 349.97, a P/E/G ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a 12 month low of $16.03 and a 12 month high of $84.80. The stock has a 50 day moving average of $67.40 and a two-hundred day moving average of $45.06.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The business’s revenue was up 30.0% compared to the same quarter last year. Sell-side analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PLTR. Northland Securities lifted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Baird R W raised Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. UBS Group started coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target for the company. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research report on Monday. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $42.12.

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.