Palantir Technologies (NASDAQ:PLTR) Trading Up 0.6% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded up 0.6% during mid-day trading on Friday . The stock traded as high as $88.28 and last traded at $87.90. 33,134,827 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 65,493,427 shares. The stock had previously closed at $87.39.

Analysts Set New Price Targets

PLTR has been the subject of several recent analyst reports. William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Robert W. Baird lifted their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. DA Davidson upped their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Finally, Mizuho boosted their price target on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Stock Up 2.1 %

The company has a market cap of $209.27 billion, a P/E ratio of 468.80, a PEG ratio of 10.84 and a beta of 2.81. The company has a 50 day moving average price of $89.08 and a 200-day moving average price of $66.51.

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total value of $103,437,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $48,988. This represents a 99.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the transaction, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,379,785 shares of company stock valued at $281,528,938 over the last 90 days. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of PLTR. 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 valued at $202,000 after purchasing an additional 98 shares during the last quarter. Heritage Wealth Management Inc. CA lifted its position in shares of Palantir Technologies by 0.4% during the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares during the last quarter. True Wealth Design LLC lifted its position in shares of Palantir Technologies by 29.3% during the 4th quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after acquiring an additional 114 shares during the last quarter. Westover Capital Advisors LLC grew 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 worth $554,000 after acquiring an additional 130 shares during the last quarter. Finally, Tritonpoint Wealth LLC raised its position in shares of Palantir Technologies by 1.9% during the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after purchasing an additional 132 shares during the period. 45.65% of the stock is owned by institutional investors and hedge funds.

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.