Palantir Technologies (NASDAQ:PLTR) Stock Price Up 2.2% – Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded up 2.2% on Wednesday . The company traded as high as $81.83 and last traded at $79.03. 51,261,765 shares traded hands during trading, a decline of 27% from the average session volume of 70,004,698 shares. The stock had previously closed at $77.32.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Loop Capital restated a “buy” rating on shares of Palantir Technologies in a report on Friday. Bank of America increased their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Mizuho upped 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. Daiwa America raised Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Finally, William Blair set a $84.00 target price on Palantir Technologies in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average target price of $75.19.

Palantir Technologies Price Performance

The firm has a 50-day moving average price of $92.61 and a two-hundred day moving average price of $71.79. The company has a market capitalization of $188.74 billion, a price-to-earnings ratio of 423.99, a PEG ratio of 10.84 and a beta of 2.74.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 18,537 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $102.32, for a total transaction of $1,896,705.84. Following the completion of the transaction, the insider now directly owns 493,469 shares of the company’s stock, valued at approximately $50,491,748.08. This represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now directly owns 61,339 shares in the company, valued at $4,983,793.75. This trade represents a 1.29 % 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 in the last quarter. 12.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. raised its holdings in shares of Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after purchasing an additional 448 shares during the period. Diversify Wealth Management LLC bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $876,000. Destiny Wealth Partners LLC acquired a new position in shares of Palantir Technologies during the 4th quarter worth approximately $3,233,000. Coldstream Capital Management Inc. bought a new stake in Palantir Technologies in the 3rd quarter valued at $639,000. Finally, Kieckhefer Group LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $11,769,000. 45.65% of the stock is currently 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.