Sovran Advisors LLC Invests $405,000 in Palantir Technologies Inc. (NASDAQ:PLTR)

Sovran Advisors LLC acquired a new position in Palantir Technologies Inc. (NASDAQ:PLTR) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 5,359 shares of the company’s stock, valued at approximately $405,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in 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 purchasing an additional 448 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $876,000. Destiny Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $3,233,000. Finally, State of Alaska Department of Revenue raised its holdings in 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 valued at $13,786,000 after acquiring an additional 68,945 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $50,128,019.74. This represents a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 1,007,496 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $411,407,221.68. The trade was a 13.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,833,085 shares of company stock valued at $924,999,929 over the last three months. 12.93% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PLTR has been the subject of several research analyst reports. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Citigroup upped their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. DA Davidson boosted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Mizuho upped their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald lifted their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” 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 given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Performance

NASDAQ PLTR opened at $117.39 on Thursday. The company has a market cap of $267.42 billion, a P/E ratio of 617.87, a P/E/G ratio of 11.44 and a beta of 2.81. The business’s 50 day moving average price is $79.17 and its 200-day moving average price is $54.84. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $118.66.

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.