Norges Bank Buys Shares of 24,262,451 Palantir Technologies Inc. $PLTR

Norges Bank purchased a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,262,451 shares of the company’s stock, valued at approximately $3,307,457,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Palantir Technologies by 3.6% in the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after buying an additional 7,194,216 shares during the last quarter. Northern Trust Corp grew its stake in shares of Palantir Technologies by 0.3% during the first quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock worth $1,650,310,000 after acquiring an additional 64,973 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Palantir Technologies during the second quarter valued at about $2,543,888,000. Invesco Ltd. raised its position in shares of Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock valued at $1,497,843,000 after purchasing an additional 2,998,716 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Palantir Technologies by 38.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company’s stock worth $1,281,205,000 after purchasing an additional 4,221,392 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

Shares of PLTR opened at $165.77 on Friday. The business’s 50-day moving average is $179.76 and its two-hundred day moving average is $159.25. The company has a market capitalization of $395.10 billion, a P/E ratio of 394.70, a P/E/G ratio of 6.43 and a beta of 2.63. Palantir Technologies Inc. has a fifty-two week low of $63.40 and a fifty-two week high of $207.52.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The company’s revenue was up 62.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 19,004 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the completion of the transaction, the insider directly owned 642,786 shares of the company’s stock, valued at $100,435,312.50. The trade was a 2.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the completion of the transaction, the insider owned 251,409 shares of the company’s stock, valued at approximately $40,818,765.24. This represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 1,146,892 shares of company stock worth $186,381,382. 9.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PLTR. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Piper Sandler raised their target price on Palantir Technologies from $201.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Northland Securities lifted their price target on Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. Citigroup boosted their price target on Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Finally, Cantor Fitzgerald raised their price objective on Palantir Technologies from $155.00 to $198.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $172.28.

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.