Swedbank AB Invests $31.49 Million in Palantir Technologies Inc. (NASDAQ:PLTR)

Swedbank AB bought a new position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 416,384 shares of the company’s stock, valued at approximately $31,491,000.

Several other large investors also recently made changes to their positions in the company. RMR Wealth Builders grew its position in Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after purchasing an additional 167 shares during the period. Bay Rivers Group raised its holdings in shares of Palantir Technologies by 2.7% during the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after buying an additional 171 shares in the last quarter. Christensen King & Associates Investment Services Inc. lifted its holdings in shares of Palantir Technologies by 3.0% in the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after acquiring an additional 174 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Palantir Technologies by 1.4% during the fourth quarter. Geneos Wealth Management Inc. now owns 14,406 shares of the company’s stock valued at $1,090,000 after buying an additional 196 shares during the period. Finally, ST Germain D J Co. Inc. grew its position in Palantir Technologies by 4.4% during the 4th quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company’s stock worth $362,000 after acquiring an additional 200 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 related news, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $49.96, for a total value of $999,200.00. Following the transaction, the insider now owns 562,006 shares in the company, valued at approximately $28,077,819.76. This represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,181,807 shares of company stock worth $1,288,448,522. 12.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Mizuho boosted their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. UBS Group assumed coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective for the company. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Morgan Stanley reissued an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. Finally, Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $44.61.

Palantir Technologies Price Performance

Shares of PLTR opened at $81.22 on Friday. 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 simple moving average of $72.94 and a two-hundred day simple moving average of $50.10. The firm has a market cap of $185.02 billion, a P/E ratio of 406.12, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The business’s revenue was up 30.0% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

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.