10,467 Shares in Palantir Technologies Inc. (NASDAQ:PLTR) Acquired by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC acquired a new stake in Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,467 shares of the company's stock, valued at approximately $792,000.

Several other hedge funds also recently bought and sold shares of the business. Roxbury Financial LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank purchased a new stake in Palantir Technologies in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC grew its stake in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after acquiring an additional 265 shares in the last quarter. HighMark Wealth Management LLC increased its position in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock worth $30,000 after acquiring an additional 166 shares during the period. Finally, Sierra Ocean LLC purchased a new position in shares of Palantir Technologies during the fourth quarter worth approximately $31,000. Institutional investors own 45.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLTR. Wedbush reissued an "outperform" rating and issued a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Citigroup increased their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 5th. DA Davidson lifted their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Morgan Stanley upgraded shares of 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 report on Tuesday, February 4th. Finally, Loop Capital started coverage on shares of Palantir Technologies in a research report on Thursday, February 20th. They set a "buy" rating and a $141.00 target price on the stock. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $75.25.

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Insiders Place Their Bets

In related news, Director Alexandra W. Schiff sold 6,776 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares in the company, valued at $15,993,370.71. This trade represents a 3.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen Andrew Cohen sold 416,053 shares of the business's stock in a transaction dated 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 sale, the insider now owns 592 shares in the company, valued at approximately $43,908.64. The trade was a 99.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 985,838 shares of company stock valued at $75,333,389. Insiders own 12.93% of the company's stock.

Palantir Technologies Stock Up 2.2 %

Shares of Palantir Technologies stock opened at $78.05 on Wednesday. The firm has a market capitalization of $183.06 billion, a P/E ratio of 410.81, a PEG ratio of 10.84 and a beta of 2.81. Palantir Technologies Inc. has a 52 week low of $20.33 and a 52 week high of $125.41. The company has a 50 day moving average price of $87.46 and a 200 day moving average price of $64.35.

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.

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