Clare Market Investments LLC Purchases New Position in Palantir Technologies Inc. (NASDAQ:PLTR)

Clare Market Investments LLC purchased a new stake in shares of Palantir Technologies Inc. (NASDAQ:PLTR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 77,175 shares of the company’s stock, valued at approximately $5,837,000. Palantir Technologies comprises approximately 1.4% of Clare Market Investments LLC’s holdings, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Independent Advisor Alliance boosted its stake in Palantir Technologies by 90.7% during the fourth quarter. Independent Advisor Alliance now owns 56,530 shares of the company’s stock valued at $4,275,000 after buying an additional 26,888 shares during the last quarter. Meriwether Wealth & Planning LLC bought a new position in Palantir Technologies during the fourth quarter valued at approximately $265,000. Daiwa Securities Group Inc. boosted its stake in Palantir Technologies by 49.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 480,809 shares of the company’s stock valued at $36,399,000 after buying an additional 159,474 shares during the last quarter. FWG Holdings LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $648,000. Finally, Main Street Research LLC lifted its stake in shares of Palantir Technologies by 0.6% in the 4th quarter. Main Street Research LLC now owns 897,720 shares of the company’s stock valued at $67,895,000 after purchasing an additional 4,919 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Up 5.7 %

PLTR opened at $85.07 on Monday. The stock’s fifty day moving average is $87.43 and its two-hundred day moving average is $63.71. The company has a market capitalization of $199.51 billion, a P/E ratio of 447.74, 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.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. UBS Group raised their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. William Blair raised Palantir Technologies from an “underperform” rating to a “market perform” rating in a research note on Wednesday, March 5th. Robert W. Baird raised their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Cantor Fitzgerald raised their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Five research 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. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $74.79.

Insiders Place Their Bets

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now directly owns 195,393 shares in the company, valued at approximately $13,996,000.59. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of Palantir Technologies stock in a transaction on 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 completion of the transaction, the insider now owns 592 shares in the company, valued at $43,908.64. This represents a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,435,838 shares of company stock worth $107,260,889 in the last ninety days. 12.93% of the stock is owned by company insiders.

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.