Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $110.00

Palantir Technologies (NASDAQ:PLTR) had its target price upped by Citigroup from $42.00 to $110.00 in a research note released on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other research analysts also recently issued reports about the company. Jefferies Financial Group lifted their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Northland Securities lifted their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday. UBS Group lifted their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lifted their target price on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $69.44.

Palantir Technologies Stock Down 0.4 %

NASDAQ:PLTR opened at $110.85 on Wednesday. The stock’s 50 day moving average price is $76.46 and its 200 day moving average price is $52.67. Palantir Technologies has a 52-week low of $20.33 and a 52-week high of $116.30. The company has a market capitalization of $252.52 billion, a PE ratio of 554.28, a P/E/G ratio of 7.54 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction on 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 owns 752,786 shares of the company’s stock, valued at $52,755,242.88. The trade was a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the sale, the director now directly owns 88,129 shares of the company’s stock, valued at approximately $9,059,661.20. This trade represents a 11.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,656,687 shares of company stock valued at $1,040,105,687 over the last three months. 12.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the company. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC boosted its position in shares of 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 buying an additional 265 shares during the period. HighMark Wealth Management LLC boosted its position in shares of Palantir Technologies by 73.5% in the fourth 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. Finally, Sierra Ocean LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter worth about $31,000. Hedge funds and other institutional investors 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.