Sei Investments Co. Boosts Stake in Palantir Technologies Inc. (NASDAQ:PLTR)

Sei Investments Co. increased its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 7.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 356,878 shares of the company’s stock after buying an additional 23,549 shares during the quarter. Sei Investments Co.’s holdings in Palantir Technologies were worth $26,991,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PLTR. Prestige Wealth Management Group LLC grew its position in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC purchased a new position in Palantir Technologies during the 4th quarter worth $27,000. First PREMIER Bank acquired a new position in Palantir Technologies in the fourth quarter valued at $28,000. Wolff Wiese Magana LLC raised its holdings in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its stake 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 buying an additional 166 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $48,988. The trade was a 99.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock worth $281,528,938 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PLTR. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Jefferies Financial Group increased their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. DA Davidson boosted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Stock Performance

Palantir Technologies stock opened at $96.51 on Wednesday. Palantir Technologies Inc. has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The firm has a market capitalization of $226.35 billion, a price-to-earnings ratio of 507.97, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The stock’s fifty day moving average is $90.80 and its two-hundred day moving average is $68.37.

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.