Palantir Technologies (NASDAQ:PLTR) Trading 4.1% Higher - What's Next?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares were up 4.1% during trading on Thursday . The company traded as high as $105.62 and last traded at $104.95. Approximately 39,951,162 shares were traded during trading, a decline of 46% from the average daily volume of 73,327,882 shares. The stock had previously closed at $100.82.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PLTR shares. Royal Bank of Canada increased their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an "underperform" rating in a research report on Tuesday, February 4th. Bank of America increased their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. William Blair set a $84.00 price objective on Palantir Technologies in a report on Wednesday, March 5th. Mizuho increased their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an "underperform" rating in a report on Tuesday, February 4th. Finally, Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of "Hold" and an average price target of $74.71.

Palantir Technologies Price Performance

The company has a 50 day simple moving average of $89.81 and a 200-day simple moving average of $75.91. The stock has a market cap of $249.66 billion, a P/E ratio of 558.42, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the company'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 completion of the sale, the insider now owns 512,006 shares of the company's stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the sale, the director now directly owns 88,129 shares of the company's stock, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,989,975 shares of company stock valued at $253,328,090 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Institutional investors have recently made changes to their positions in the stock. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its stake in shares of Palantir Technologies by 230.4% during the fourth 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. HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company's stock valued at $30,000 after purchasing an additional 166 shares during the period. Finally, Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter valued at approximately $31,000. Hedge funds and other 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.

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