Palantir Technologies (NASDAQ:PLTR) Shares Up 0.7% - Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) traded up 0.7% during mid-day trading on Thursday . The stock traded as high as $93.65 and last traded at $92.96. 33,901,834 shares traded hands during trading, a decline of 49% from the average session volume of 66,480,982 shares. The stock had previously closed at $92.28.

Analyst Ratings Changes

PLTR has been the subject of several research analyst reports. Morgan Stanley upgraded shares of Palantir Technologies from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Loop Capital dropped their price target on Palantir Technologies from $141.00 to $125.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Bank of America lifted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Baird R W raised Palantir Technologies to a "hold" rating in a research report on Thursday, December 12th. Finally, Cantor Fitzgerald increased their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $74.45.

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Palantir Technologies Price Performance

The firm has a 50-day simple moving average of $91.98 and a 200-day simple moving average of $69.28. The firm has a market capitalization of $201.35 billion, a PE ratio of 451.87, a PEG ratio of 10.84 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock worth $281,528,938 in the last quarter. Company insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Mather Group LLC. increased its stake in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after purchasing an additional 448 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at about $876,000. Destiny Wealth Partners LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth about $3,233,000. Coldstream Capital Management Inc. purchased a new stake in shares of Palantir Technologies during the third quarter worth about $639,000. Finally, Kieckhefer Group LLC bought a new stake in Palantir Technologies during the 4th quarter valued at approximately $11,769,000. 45.65% of the stock is currently owned by institutional investors.

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.