Ossiam Raises Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Ossiam lifted its stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR - Free Report) by 27.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,193 shares of the company's stock after purchasing an additional 10,226 shares during the period. Ossiam's holdings in Palantir Technologies were worth $3,569,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. M&T Bank Corp lifted its stake in Palantir Technologies by 37.0% in the third quarter. M&T Bank Corp now owns 170,043 shares of the company's stock valued at $6,326,000 after acquiring an additional 45,965 shares during the last quarter. World Investment Advisors LLC bought a new position in Palantir Technologies during the third quarter worth about $347,000. Wilmington Savings Fund Society FSB increased its position in Palantir Technologies by 48.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 17,538 shares of the company's stock worth $652,000 after buying an additional 5,747 shares during the last quarter. Synovus Financial Corp raised its stake in Palantir Technologies by 85.9% in the third quarter. Synovus Financial Corp now owns 17,898 shares of the company's stock valued at $666,000 after buying an additional 8,270 shares during the period. Finally, Tri Ri Asset Management Corp acquired a new stake in shares of Palantir Technologies in the third quarter valued at approximately $23,403,000. Institutional investors and hedge funds own 45.65% of the company's stock.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the transaction, the insider now directly owns 592 shares of the company's stock, valued at $48,988. The trade was a 99.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now directly owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

Shares of PLTR traded up $5.70 during mid-day trading on Thursday, reaching $106.52. 64,532,643 shares of the company were exchanged, compared to its average volume of 73,422,831. The business has a 50 day simple moving average of $89.81 and a two-hundred day simple moving average of $75.91. Palantir Technologies Inc. has a 52 week low of $20.50 and a 52 week high of $125.41. The stock has a market capitalization of $249.82 billion, a PE ratio of 560.76, a PEG ratio of 10.84 and a beta of 2.74.

Analysts Set New Price Targets

PLTR has been the subject of several research analyst reports. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a report on Tuesday, February 4th. Robert W. Baird boosted their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Cantor Fitzgerald increased their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price objective for the company. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $74.71.

About Palantir Technologies

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.