Palantir Technologies (NASDAQ:PLTR) Coverage Initiated at Loop Capital

Loop Capital initiated coverage on shares of Palantir Technologies (NASDAQ:PLTR - Free Report) in a report released on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $141.00 price target on the stock.

Several other equities analysts have also recently commented on PLTR. Cantor Fitzgerald increased their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Argus lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. UBS Group lifted their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Royal Bank of Canada upped their price objective on Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group increased their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $73.21.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded down $4.94 during trading on Thursday, hitting $101.33. The company's stock had a trading volume of 127,362,123 shares, compared to its average volume of 90,590,563. The company has a market capitalization of $230.84 billion, a PE ratio of 533.36, a PEG ratio of 11.52 and a beta of 2.81. Palantir Technologies has a fifty-two week low of $20.33 and a fifty-two week high of $125.41. The stock's 50-day moving average price is $85.36 and its two-hundred day moving average price is $58.84.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather A. Planishek sold 13,891 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now directly owns 512,006 shares in the company, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,680,992 shares of company stock valued at $473,395,877. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Continuum Advisory LLC raised its position in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock worth $202,000 after acquiring an additional 98 shares in the last quarter. Heritage Wealth Management Inc. CA grew its stake in shares of Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company's stock worth $2,195,000 after purchasing an additional 111 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company's stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Westover Capital Advisors LLC lifted its stake in Palantir Technologies by 1.8% during the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company's stock valued at $554,000 after purchasing an additional 130 shares during the last quarter. Finally, Tritonpoint Wealth LLC lifted its stake in Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company's stock valued at $537,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 45.65% of the company's stock.

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.