Palantir Technologies (NASDAQ:PLTR) Stock Price Up 0.5% - Here's What Happened

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares shot up 0.5% during trading on Thursday . The company traded as high as $95.11 and last traded at $93.18. 36,303,879 shares traded hands during trading, a decline of 50% from the average session volume of 72,230,516 shares. The stock had previously closed at $92.71.

Analysts Set New Price Targets

PLTR has been the subject of a number of research analyst reports. DA Davidson cut their target price on shares of Palantir Technologies from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Loop Capital reiterated a "buy" rating on shares of Palantir Technologies in a report on Friday, April 4th. Royal Bank of Canada boosted their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research note on Tuesday, February 4th. Northland Securities upped their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group lifted their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and an average target price of $74.71.

Palantir Technologies Trading Up 1.2 %

The firm has a 50-day moving average of $91.18 and a two-hundred day moving average of $75.01. The firm has a market cap of $219.95 billion, a price-to-earnings ratio of 493.60, a PEG ratio of 10.84 and a beta of 2.74.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now owns 88,129 shares of the company's stock, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,989,975 shares of company stock valued at $253,328,090 in the last three months. Company insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLTR. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $27,000. First PREMIER Bank bought a new stake in Palantir Technologies in the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC raised its position in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock worth $29,000 after purchasing an additional 265 shares in the last quarter. HighMark Wealth Management LLC lifted its stake in 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 purchasing an additional 166 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in Palantir Technologies during the fourth quarter valued at approximately $31,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.