Palantir Technologies (NASDAQ:PLTR) Trading 5.3% Higher – Time to Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) rose 5.3% on Monday . The company traded as high as $97.39 and last traded at $95.79. Approximately 48,213,522 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 66,019,994 shares. The stock had previously closed at $90.96.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLTR. Bank of America boosted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Citigroup increased their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald increased their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. UBS Group boosted their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Loop Capital dropped their price objective on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $74.45.

Palantir Technologies Stock Performance

The business’s fifty day simple moving average is $89.55 and its 200 day simple moving average is $67.44. The stock has a market cap of $223.58 billion, a price-to-earnings ratio of 501.76, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 310,000 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the sale, the insider now directly owns 592 shares of the company’s stock, valued at $51,545.44. This represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,379,785 shares of company stock worth $281,528,938. 12.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Continuum Advisory LLC lifted its stake in Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after purchasing an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA raised its holdings in shares of Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after purchasing an additional 111 shares during the period. True Wealth Design LLC lifted its position in shares of Palantir Technologies by 29.3% in the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock worth $38,000 after buying an additional 114 shares during the last quarter. Westover Capital Advisors LLC boosted its holdings in shares of Palantir Technologies by 1.8% in the 4th quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after buying an additional 130 shares during the period. Finally, Tritonpoint Wealth LLC grew its position in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares during the last quarter. 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.