Palantir Technologies (NASDAQ:PLTR) Trading Up 0.4% - Time to Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) rose 0.4% during mid-day trading on Friday . The stock traded as high as $110.19 and last traded at $108.20. Approximately 39,814,893 shares traded hands during trading, a decline of 46% from the average daily volume of 73,604,573 shares. The stock had previously closed at $107.78.

Analysts Set New Price Targets

PLTR has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Loop Capital reaffirmed a "buy" rating on shares of Palantir Technologies in a research report on Friday, April 4th. UBS Group increased their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada raised their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $74.71.

Palantir Technologies Stock Performance

The company has a market cap of $264.51 billion, a PE ratio of 593.61, a P/E/G ratio of 10.84 and a beta of 2.74. The stock's 50-day simple moving average is $89.34 and its 200 day simple moving average is $77.35.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the sale, the director now owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Heather A. Planishek sold 18,537 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the completion of the transaction, the insider now directly owns 493,469 shares of the company's stock, valued at approximately $50,491,748.08. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently added to or reduced their stakes in the business. Mather Group LLC. increased its stake in shares of Palantir Technologies by 834.7% during the 1st quarter. Mather Group LLC. now owns 8,319 shares of the company's stock worth $702,000 after purchasing an additional 7,429 shares in the last quarter. Alta Advisers Ltd increased its position in Palantir Technologies by 57.2% during the first quarter. Alta Advisers Ltd now owns 10,722 shares of the company's stock worth $905,000 after buying an additional 3,900 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of Palantir Technologies in the first quarter worth $205,000. Richardson Capital Management LLC purchased a new stake in shares of Palantir Technologies in the first quarter valued at $33,000. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of Palantir Technologies during the first quarter valued at $241,000. 45.65% of the stock is 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.