Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB trimmed its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PLTR. State Street Corp lifted its stake in Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after acquiring an additional 808,444 shares during the period. FMR LLC lifted its holdings in Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after acquiring an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR opened at $69.99 on Wednesday. The stock has a market capitalization of $159.44 billion, a price-to-earnings ratio of 349.97, a PEG ratio of 10.18 and a beta of 2.82. Palantir Technologies Inc. has a 1-year low of $16.03 and a 1-year high of $84.80. The company has a 50 day moving average price of $67.40 and a 200 day moving average price of $45.06.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 EPS. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PLTR shares. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Wedbush increased their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, DA Davidson increased their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $42.12.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the sale, the director now directly owns 138,304 shares of the company’s stock, valued at $6,071,545.60. The trade was a 5.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This trade represents a 34.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,645,510 shares of company stock valued at $1,444,267,325. 12.93% of the stock is owned by corporate insiders.

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.