Sierra Ocean LLC Invests $31,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Sierra Ocean LLC bought a new position in Palantir Technologies Inc. (NASDAQ:PLTR) in the 4th quarter, HoldingsChannel reports. The fund bought 413 shares of the company’s stock, valued at approximately $31,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mather Group LLC. boosted its position in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after buying an additional 448 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after acquiring an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $876,000. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $3,233,000. Finally, State of Alaska Department of Revenue raised its holdings in shares of Palantir Technologies by 22.9% during the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after acquiring an additional 68,945 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Up 4.6 %

PLTR stock opened at $124.62 on Wednesday. Palantir Technologies Inc. has a twelve month low of $20.33 and a twelve month high of $125.00. The company has a market cap of $283.89 billion, a PE ratio of 655.93, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81. The business’s 50-day simple moving average is $83.91 and its 200 day simple moving average is $58.13.

Analyst Ratings Changes

PLTR has been the subject of several recent research reports. DA Davidson increased their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Cantor Fitzgerald raised their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Royal Bank of Canada raised their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $69.44.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 1,620,395 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $406,583,028.18. The trade was a 20.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,301,387 shares of company stock valued at $575,821,045 over the last three months. 12.93% of the stock is owned by corporate insiders.

Palantir Technologies 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.