Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 15.3% during the 1st quarter, HoldingsChannel reports. The fund owned 284,223 shares of the company’s stock after selling 51,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Palantir Technologies were worth $23,988,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in shares of Palantir Technologies by 15.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 49,651 shares of the company’s stock worth $4,191,000 after acquiring an additional 6,479 shares in the last quarter. Garrison Bradford & Associates Inc. purchased a new position in Palantir Technologies in the 1st quarter valued at about $45,000. Menard Financial Group LLC lifted its stake in Palantir Technologies by 8.2% in the 1st quarter. Menard Financial Group LLC now owns 25,938 shares of the company’s stock valued at $2,189,000 after buying an additional 1,964 shares in the last quarter. TCW Group Inc. lifted its stake in Palantir Technologies by 14.5% in the 1st quarter. TCW Group Inc. now owns 32,031 shares of the company’s stock valued at $2,703,000 after buying an additional 4,068 shares in the last quarter. Finally, Sagespring Wealth Partners LLC lifted its stake in Palantir Technologies by 36.3% in the 1st quarter. Sagespring Wealth Partners LLC now owns 24,054 shares of the company’s stock valued at $2,030,000 after buying an additional 6,405 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $184.37 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $190.00. The firm has a 50 day moving average price of $148.82 and a 200 day moving average price of $117.81. The company has a market capitalization of $435.10 billion, a PE ratio of 614.59, a price-to-earnings-growth ratio of 10.54 and a beta of 2.60.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.02. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $939.29 million. During the same quarter last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was up 48.0% on a year-over-year basis. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the transaction, the insider owned 363,755 shares of the company’s stock, valued at $63,657,125. This trade represents a 7.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider David A. Glazer sold 3,418 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $125.97, for a total transaction of $430,565.46. Following the completion of the transaction, the insider directly owned 492,079 shares of the company’s stock, valued at $61,987,191.63. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,515,632 shares of company stock worth $196,472,623 in the last three months. Company insiders own 9.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Palantir Technologies from $40.00 to $45.00 and gave the company an “underperform” rating in a research note on Tuesday, August 5th. Mizuho raised shares of Palantir Technologies from an “underperform” rating to a “neutral” rating and raised their price target for the company from $116.00 to $135.00 in a research note on Wednesday, July 16th. UBS Group reaffirmed a “neutral” rating and issued a $165.00 price target (up from $110.00) on shares of Palantir Technologies in a research note on Tuesday, August 5th. Wall Street Zen raised shares of Palantir Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Cantor Fitzgerald raised their price target on shares of Palantir Technologies from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $136.61.

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.