Palantir Technologies Inc. (NASDAQ:PLTR) Receives $69.44 Average Target Price from Analysts

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have received an average rating of “Reduce” from the twenty-two analysts that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $73.21.

Several research analysts have recently commented on PLTR shares. UBS Group raised their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Wedbush lifted their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Citigroup lifted their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th.

Palantir Technologies Trading Down 4.6 %

Shares of PLTR opened at $101.33 on Tuesday. Palantir Technologies has a 12 month low of $20.33 and a 12 month high of $125.41. The firm’s 50 day moving average is $85.87 and its 200-day moving average is $59.60. The stock has a market capitalization of $230.84 billion, a PE ratio of 533.36, a P/E/G ratio of 10.84 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $66.77, for a total transaction of $650,740.42. Following the sale, the director now directly owns 111,644 shares in the company, valued at $7,454,469.88. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,680,992 shares of company stock worth $473,395,877. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Northwest Investment Counselors LLC bought a new stake in Palantir Technologies in the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its position in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after buying an additional 650 shares during the period. Roxbury Financial LLC bought a new stake in shares of Palantir Technologies in the 4th quarter valued at $27,000. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the 4th quarter valued at $28,000. Finally, Wolff Wiese Magana LLC boosted its stake in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after acquiring an additional 265 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.