Palantir Technologies (NASDAQ:PLTR) Trading 1.1% Higher – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) was up 1.1% during trading on Tuesday . The company traded as high as $125.00 and last traded at $120.53. Approximately 39,157,102 shares changed hands during trading, a decline of 52% from the average daily volume of 81,349,719 shares. The stock had previously closed at $119.16.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent research reports. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Jefferies Financial Group lifted 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. Royal Bank of Canada increased their price target on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Finally, Mizuho increased their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating 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 four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $73.21.

Palantir Technologies Price Performance

The company has a market capitalization of $242.09 billion, a PE ratio of 559.35, a price-to-earnings-growth ratio of 12.81 and a beta of 2.81. The company’s fifty day moving average is $84.70 and its 200-day moving average is $58.51.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the sale, the director now owns 62,139 shares in the company, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,301,387 shares of company stock worth $575,821,045 in the last three months. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. 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 stake in Palantir Technologies in the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its position in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the last quarter. HighMark Wealth Management LLC lifted its stake in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the period. Finally, Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $31,000. 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.