Palantir Technologies (NASDAQ:PLTR) Trading 0.4% Higher – Still a Buy?

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

Analyst Ratings Changes

Several equities research analysts have weighed in on PLTR shares. Robert W. Baird increased their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. UBS Group increased their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research 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 stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Citigroup increased their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Wedbush increased their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Performance

The stock’s 50 day simple moving average is $81.90 and its two-hundred day simple moving average is $56.35. The firm has a market capitalization of $271.45 billion, a PE ratio of 627.19, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 38,093 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $405,296,576.58. This trade represents a 0.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,346,976 shares of company stock valued at $642,660,729 in the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Heritage Wealth Management Inc. CA grew its stake in shares of Palantir Technologies by 0.4% in the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock worth $2,195,000 after acquiring an additional 111 shares in the last quarter. Westover Capital Advisors LLC lifted its position 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 acquiring an additional 130 shares during the last quarter. Tritonpoint Wealth LLC lifted its position in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after acquiring an additional 132 shares during the last quarter. Twin Peaks Wealth Advisors LLC lifted its position in Palantir Technologies by 2.2% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock valued at $493,000 after acquiring an additional 139 shares during the last quarter. Finally, Truvestments Capital LLC lifted its position in Palantir Technologies by 1.2% in the fourth quarter. Truvestments Capital LLC now owns 12,311 shares of the company’s stock valued at $931,000 after acquiring an additional 142 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.