OFI Invest Asset Management Takes Position in Palantir Technologies Inc. (NASDAQ:PLTR)

OFI Invest Asset Management bought a new stake in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,321 shares of the company’s stock, valued at approximately $1,338,000.

Other hedge funds also recently modified their holdings of the company. Prestige Wealth Management Group LLC boosted its stake in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Palantir Technologies in the 4th quarter valued at about $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC boosted its stake in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Insider Activity

In related news, insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $43,908.64. This trade represents a 99.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 483,987 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the transaction, the insider now directly owns 170,273 shares of the company’s stock, valued at $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,435,838 shares of company stock worth $107,260,889 over the last ninety days. Insiders own 12.93% of the company’s stock.

Palantir Technologies Stock Up 5.7 %

NASDAQ PLTR opened at $85.07 on Monday. Palantir Technologies Inc. has a 12-month low of $20.33 and a 12-month high of $125.41. The company has a market capitalization of $199.51 billion, a PE ratio of 447.74, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The firm’s 50 day moving average is $87.43 and its 200-day moving average is $63.71.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLTR. Citigroup raised their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Robert W. Baird lifted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Loop Capital began coverage on shares of Palantir Technologies in a research note on Thursday, February 20th. They set a “buy” rating and a $141.00 price objective on the stock. Finally, Mizuho lifted their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and an average price target of $74.79.

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.