Colonial River Investments LLC Raises Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Colonial River Investments LLC increased its position in Palantir Technologies Inc. (NASDAQ:PLTR) by 4.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 25,536 shares of the company’s stock after purchasing an additional 1,102 shares during the period. Palantir Technologies makes up 0.9% of Colonial River Investments LLC’s holdings, making the stock its 29th biggest holding. Colonial River Investments LLC’s holdings in Palantir Technologies were worth $1,931,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PLTR. Prestige Wealth Management Group LLC increased its position in Palantir Technologies by 747.1% during 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 period. Roxbury Financial LLC purchased a new position in Palantir Technologies during the 4th quarter valued at $27,000. First PREMIER Bank purchased a new position in Palantir Technologies during the 4th quarter valued at $28,000. Wolff Wiese Magana LLC increased its position in Palantir Technologies by 230.4% during 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 period. Finally, HighMark Wealth Management LLC increased its position in Palantir Technologies by 73.5% during 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 period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald boosted their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Wedbush upped their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. The Goldman Sachs Group upped their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $73.21.

Insider Activity

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $42,002.40. This represents a 99.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 30,000 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $50,128,019.74. The trade was a 3.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,671,246 shares of company stock valued at $472,745,137 in the last quarter. 12.93% of the stock is currently owned by insiders.

Palantir Technologies Stock Performance

PLTR opened at $101.33 on Monday. Palantir Technologies Inc. has a 52-week low of $20.33 and a 52-week high of $125.41. The stock has a market capitalization of $230.84 billion, a P/E ratio of 533.36, a P/E/G ratio of 10.84 and a beta of 2.81. The company’s 50-day simple moving average is $85.87 and its two-hundred day simple moving average is $59.84.

Palantir Technologies Company 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.