KLP Kapitalforvaltning AS Makes New $52.03 Million Investment in Palantir Technologies Inc. (NASDAQ:PLTR)

KLP Kapitalforvaltning AS purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 688,000 shares of the company’s stock, valued at approximately $52,033,000.

Other hedge funds have also recently bought and sold shares of the company. Westover Capital Advisors LLC boosted its position in Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after purchasing an additional 130 shares during the last quarter. Tritonpoint Wealth LLC lifted its position in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC lifted its position in shares of Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after buying an additional 139 shares during the last quarter. Truvestments Capital LLC lifted its position in shares of Palantir Technologies by 1.2% during the 4th quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock valued at $931,000 after buying an additional 142 shares during the last quarter. Finally, RKL Wealth Management LLC lifted its position in shares of Palantir Technologies by 2.7% during the 4th quarter. RKL Wealth Management LLC now owns 5,689 shares of the company’s stock valued at $430,000 after buying an additional 150 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the transaction, the insider now directly owns 170,273 shares of the company’s stock, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. Corporate insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 4.1 %

Palantir Technologies stock opened at $90.96 on Friday. The business has a fifty day moving average of $89.55 and a two-hundred day moving average of $66.92. The firm has a market cap of $213.33 billion, a P/E ratio of 478.76, a P/E/G ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.41.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent research reports. Citigroup upped their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Loop Capital decreased their price objective on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Northland Securities boosted their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Mizuho boosted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $74.45.

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.