Palantir Technologies (NASDAQ:PLTR) Trading 3.6% Higher - Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shot up 3.6% on Monday . The company traded as high as $115.03 and last traded at $114.87. 41,521,075 shares were traded during mid-day trading, a decline of 49% from the average session volume of 82,002,813 shares. The stock had previously closed at $110.85.

Analyst Ratings Changes

A number of research firms have issued reports on PLTR. Robert W. Baird lifted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Morgan Stanley upgraded Palantir Technologies from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Argus lowered Palantir Technologies from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada increased their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an "underperform" rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $69.44.

Palantir Technologies Stock Performance

The firm has a 50 day moving average price of $77.34 and a two-hundred day moving average price of $53.60. The company has a market cap of $265.73 billion, a P/E ratio of 613.98, a P/E/G ratio of 11.44 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $63.10, for a total value of $283,950,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company's stock, valued at $405,875,479.80. This represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now directly owns 592 shares of the company's stock, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,656,687 shares of company stock valued at $1,040,105,687. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC raised its stake in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company's stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $28,000. Finally, Wolff Wiese Magana LLC increased its holdings in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company's stock valued at $29,000 after purchasing an additional 265 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

About Palantir Technologies

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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