Palantir Technologies (NASDAQ:PLTR) Trading 1.4% Higher – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR) shares were up 1.4% during mid-day trading on Thursday . The stock traded as high as $93.62 and last traded at $90.58. Approximately 42,627,893 shares traded hands during trading, a decline of 54% from the average daily volume of 93,270,039 shares. The stock had previously closed at $89.31.

Wall Street Analyst Weigh In

Several research firms have weighed in on PLTR. Jefferies Financial Group boosted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. DA Davidson boosted their price objective on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald upped 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. Finally, Citigroup increased their price target on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.21.

Palantir Technologies Stock Down 5.1 %

The firm has a market cap of $193.11 billion, a price-to-earnings ratio of 446.18, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The stock’s 50 day moving average is $86.79 and its 200 day moving average is $60.88.

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek sold 18,537 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were 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 owns 493,469 shares in the company, valued at approximately $50,491,748.08. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,719,783 shares of company stock valued at $477,414,743. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Prestige Wealth Management Group LLC boosted its stake 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 acquiring an additional 650 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies in the 4th quarter valued at $27,000. First PREMIER Bank purchased a new position in Palantir Technologies in the 4th quarter worth about $28,000. Wolff Wiese Magana LLC increased its stake in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its holdings in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.