(Defense World) DNB Asset Management AS raised its holding in Palantir by 7.9% in the first quarter, taking total ownership to $3,287,000.
DNB is said to have bought 17,595 shares. The asset manager now owns 239,419 shares in the company.
Some other firms also added stakes in Palantir recently. Norges Bank bought a stake worth around $269,158,000 in the fourth quarter, while the Bank of Montreal raised its holding by 1,623.6% in the same period.
UBS Asset Management Americas Inc. increased holdings in Palantir by 143.3% in the third quarter, taking total ownership to 5,571,130 shares. BlackRock raised its holding by 2,213,503 shares to a total of 84,965,431, while Sozo Ventures added a stake worth $36,436,000.
Following the recent activity, around 40.02% of the Palantir stock is owned by institutional investors and hedge funds.
There were notable exits of Palantir. Director Alexander D. Moore relinquished 11,377 shares on June 9th. Insider Ryad D. Taylor also sold 48,656 shares.
Insiders have sold around 119,199 shares of Palantir over the last ninety days. The total sales are worth $1,178,652, taking insiders’ holding in the company’s stock to 17%.
The recent stock activity comes when Palantir stock has received conflicting ratings. The Bank of America has issued a buy with a price target of $13.00. Morgan Stanley has upgraded the stock from underweight to equal rating, with a price target of $16.00 from the previous $24.00.
Citigroup is among those that have downgraded Palantir, with analysts setting a price target of $7.00 from the previous $10.00. The Royal Bank of Canada lowered the target from sector performance to underperform, cutting the price target by half to $6.00.
PLTR: NYSE is up +4.65%.
