Analysts Set Palantir Technologies Inc. (NASDAQ:PLTR) PT at $69.44

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have earned a consensus rating of “Reduce” from the twenty-two research firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $73.21.

PLTR has been the subject of several recent analyst reports. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group raised their price objective 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.

Palantir Technologies Stock Performance

PLTR stock opened at $90.68 on Tuesday. Palantir Technologies has a one year low of $20.33 and a one year high of $125.41. The stock has a market capitalization of $206.57 billion, a PE ratio of 477.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The company has a fifty day moving average of $86.17 and a 200-day moving average of $60.27.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the sale, the insider now owns 702,786 shares of the company’s stock, valued at approximately $64,958,509.98. The trade was a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,719,783 shares of company stock worth $477,414,743 over the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently bought and sold shares of the stock. Continuum Advisory LLC grew its holdings in Palantir Technologies by 3.8% in the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock valued at $202,000 after purchasing an additional 98 shares during the period. Heritage Wealth Management Inc. CA grew its holdings in Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after purchasing an additional 111 shares during the period. True Wealth Design LLC grew its holdings in Palantir Technologies by 29.3% in the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after purchasing an additional 114 shares during the period. Westover Capital Advisors LLC grew its holdings in Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock valued at $554,000 after purchasing an additional 130 shares during the period. Finally, Tritonpoint Wealth LLC lifted its position in Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after buying an additional 132 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other 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.