Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shot up 3.9% during mid-day trading on Tuesday . The stock traded as high as $96.92 and last traded at $96.26. 39,482,570 shares were traded during mid-day trading, a decline of 45% from the average session volume of 71,574,709 shares. The stock had previously closed at $92.62.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on PLTR shares. Citigroup lifted their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Northland Securities increased their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a report on Tuesday, February 4th. Daiwa Capital Markets started coverage on Palantir Technologies in a research note on Tuesday, April 1st. They issued a "neutral" rating and a $90.00 price target on the stock. Cantor Fitzgerald upped their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Finally, Bank of America lifted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $74.71.
Check Out Our Latest Report on Palantir Technologies
Palantir Technologies Trading Up 1.2 %
The company's 50-day simple moving average is $91.18 and its 200-day simple moving average is $74.75. The stock has a market capitalization of $219.95 billion, a price-to-earnings ratio of 493.60, a PEG ratio of 10.84 and a beta of 2.74.
Insider Activity at Palantir Technologies
In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares of the company's stock, valued at $48,988. The trade was a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the sale, the insider now owns 512,006 shares of the company's stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,989,975 shares of company stock worth $253,328,090 in the last quarter. Company insiders own 12.93% of the company's stock.
Institutional Trading of Palantir Technologies
Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Palantir Technologies in the 4th quarter worth about $1,360,191,000. Geode Capital Management LLC increased its stake in Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after buying an additional 4,127,306 shares in the last quarter. Wellington Management Group LLP boosted its stake in Palantir Technologies by 504.0% in the 4th 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 during the period. Invesco Ltd. increased its holdings in Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company's stock valued at $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors purchased a new position in Palantir Technologies during the 4th quarter valued at approximately $253,816,000. 45.65% of the stock is owned by hedge funds and other institutional investors.
Palantir Technologies Company Profile
(
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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.
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