Sierra Ocean LLC Increases Stock Holdings in Palantir Technologies Inc. (NASDAQ:PLTR)

Sierra Ocean LLC lifted its holdings in Palantir Technologies Inc. (NASDAQ:PLTR) by 26.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523 shares of the company’s stock after buying an additional 110 shares during the quarter. Sierra Ocean LLC’s holdings in Palantir Technologies were worth $44,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Palantir Technologies during the fourth quarter worth $1,360,191,000. Geode Capital Management LLC boosted its position in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP boosted its position in Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. Invesco Ltd. boosted its position in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after purchasing an additional 3,509,311 shares in the last quarter. Finally, Capital World Investors purchased a new stake in Palantir Technologies during the fourth quarter worth $253,816,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PLTR. Royal Bank Of Canada reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Loop Capital set a $155.00 price target on Palantir Technologies and gave the stock a “buy” rating in a research note on Thursday, June 12th. UBS Group reiterated a “positive” rating on shares of Palantir Technologies in a research note on Wednesday, June 25th. DA Davidson increased their price target on Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Finally, Mizuho increased their target price on Palantir Technologies from $94.00 to $116.00 and gave the stock an “underperform” rating in a report on Wednesday, June 11th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $89.32.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 358,982 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the transaction, the insider owned 6,432,258 shares of the company’s stock, valued at approximately $812,973,088.62. This represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the company’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider owned 702,786 shares of the company’s stock, valued at $92,823,974.88. The trade was a 36.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,451,497 shares of company stock worth $186,110,685 over the last ninety days. 9.23% of the stock is owned by insiders.

Palantir Technologies Price Performance

NASDAQ PLTR opened at $134.27 on Friday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $148.22. The stock’s 50-day moving average is $128.47 and its two-hundred day moving average is $101.68. The firm has a market cap of $316.85 billion, a P/E ratio of 583.76, a price-to-earnings-growth ratio of 11.47 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR) last posted its earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.55% and a net margin of 18.32%. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. During the same period last year, the company earned $0.08 earnings per share. The business’s revenue was up 39.4% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

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.