Norges Bank Purchases New Position in Palantir Technologies Inc. $PLTR

Norges Bank purchased a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 28,971,257 shares of the company’s stock, valued at approximately $5,149,641,000. Palantir Technologies comprises approximately 0.6% of Norges Bank’s portfolio, making the stock its 23rd largest holding.

A number of other institutional investors also recently bought and sold shares of PLTR. Bare Financial Services Inc increased its stake in Palantir Technologies by 54.5% in the third quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the period. Basepoint Wealth LLC acquired a new position in Palantir Technologies in the fourth quarter valued at $29,000. Morton Brown Family Wealth LLC increased its stake in Palantir Technologies by 250.0% in the fourth quarter. Morton Brown Family Wealth LLC now owns 175 shares of the company’s stock valued at $31,000 after purchasing an additional 125 shares during the period. United Financial Planning Group LLC acquired a new position in Palantir Technologies in the third quarter valued at $32,000. Finally, Clayton Financial Group LLC increased its stake in Palantir Technologies by 500.0% in the fourth quarter. Clayton Financial Group LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 150 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 9.2%

Shares of Palantir Technologies stock opened at $156.54 on Friday. Palantir Technologies Inc. has a 52-week low of $118.93 and a 52-week high of $207.52. The company’s 50-day simple moving average is $141.70 and its 200-day simple moving average is $156.13. The firm has a market cap of $375.28 billion, a price-to-earnings ratio of 175.89, a price-to-earnings-growth ratio of 2.27 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Palantir Technologies had a net margin of 43.67% and a return on equity of 28.34%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the business posted $0.13 earnings per share. The business’s revenue was up 84.7% compared to the same quarter last year. Equities research analysts anticipate that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Key Headlines Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Investors are bidding up PLTR after Dell’s blockbuster earnings helped validate Palantir’s AI Factory partnership, reinforcing confidence in enterprise AI spending and lifting software names broadly. PLTR Stock Alert: Why Palantir Is Getting a Boost from Dell Earnings
• Positive Sentiment: Strong demand for AI software is also supporting PLTR, with articles pointing to renewed optimism across the sector after Snowflake’s results and a broader rebound in software stocks. Palantir Stock Is Having Its Best Day in a Year. Software Looks Like a Buy Again.
• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for more upside, adding to momentum in the shares.
• Positive Sentiment: Several pieces highlighted improving technicals, including a possible structural bottom and trend reversal, which can attract momentum and algorithmic buyers. Palantir (PLTR) Price Forecast: Structural Bottom Signals Trend Reversal
• Neutral Sentiment: Analyst-related commentary noted upside potential from current price targets and recent earnings estimate revisions, but this is more supportive than a direct stock-moving catalyst. Does Palantir Technologies (PLTR) Have the Potential to Rally 35.91% as Wall Street Analysts Expect?

Insider Buying and Selling at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 319,934 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $136.04, for a total transaction of $43,523,821.36. Following the transaction, the insider directly owned 592 shares in the company, valued at $80,535.68. The trade was a 99.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Alexander C. Karp sold 397,744 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $136.04, for a total transaction of $54,109,093.76. Following the transaction, the insider owned 6,432,258 shares in the company, valued at approximately $875,044,378.32. This trade represents a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 922,524 shares of company stock valued at $125,501,302. Insiders own 9.53% of the company’s stock.

Analyst Ratings Changes

PLTR has been the topic of a number of recent research reports. Loop Capital dropped their price objective on shares of Palantir Technologies from $230.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Northland Securities upgraded shares of Palantir Technologies from a “market perform” rating to an “outperform” rating and set a $190.00 price objective on the stock in a research note on Tuesday, February 3rd. Cantor Fitzgerald restated a “neutral” rating and issued a $138.00 price objective on shares of Palantir Technologies in a research note on Friday, May 22nd. Piper Sandler restated an “overweight” rating and issued a $230.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 3rd. Finally, Argus upgraded shares of Palantir Technologies from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Moderate Buy” and an average price target of $192.76.

Palantir Technologies Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.