Palantir Technologies (NASDAQ:PLTR) Stock Price Up 0.4% – Time to Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) rose 0.4% during mid-day trading on Thursday . The company traded as high as $118.39 and last traded at $117.86. Approximately 25,743,290 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 82,310,828 shares. The stock had previously closed at $117.39.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of recent analyst reports. Wedbush increased their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Cantor Fitzgerald increased their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. DA Davidson increased their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Royal Bank of Canada increased their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Performance

The firm has a market cap of $266.21 billion, a P/E ratio of 614.54, a P/E/G ratio of 11.44 and a beta of 2.81. The company’s 50 day moving average is $80.12 and its 200 day moving average is $55.28.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 1,007,496 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $63.96, for a total value of $64,439,444.16. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $411,407,221.68. This trade represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,833,085 shares of company stock valued at $924,999,929. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the third quarter valued at $25,000. Prestige Wealth Management Group LLC lifted its position in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares in the last quarter. Roxbury Financial LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $27,000. First PREMIER Bank bought a new stake in Palantir Technologies in the fourth quarter worth about $28,000. Finally, Wolff Wiese Magana LLC raised its position in Palantir Technologies by 230.4% in 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 during the period. 45.65% of the stock is owned by 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.