Palantir Technologies (NASDAQ:PLTR) Trading Up 2.6% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price rose 2.6% during mid-day trading on Thursday . The stock traded as high as $88.50 and last traded at $88.31. Approximately 30,143,829 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 65,223,054 shares. The stock had previously closed at $86.10.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. UBS Group raised their price objective on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Mizuho increased their price target on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald boosted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Northland Securities increased their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $74.45.

Palantir Technologies Trading Up 4.1 %

The company has a market cap of $213.33 billion, a price-to-earnings ratio of 478.76, a P/E/G ratio of 10.84 and a beta of 2.81. The business has a fifty day moving average price of $89.55 and a two-hundred day moving average price of $66.92.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of Palantir Technologies stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total value of $36,047,351.76. Following the transaction, the insider now directly owns 170,273 shares of the company’s stock, valued at $12,681,933.04. The trade was a 73.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the completion of the sale, the insider now owns 592 shares in the company, valued at approximately $51,545.44. The trade was a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Natixis Advisors LLC grew its stake in shares of Palantir Technologies by 406.7% in the 3rd quarter. Natixis Advisors LLC now owns 54,742 shares of the company’s stock valued at $2,036,000 after purchasing an additional 43,938 shares during the period. Thrivent Financial for Lutherans grew its position in Palantir Technologies by 73.8% in the third quarter. Thrivent Financial for Lutherans now owns 91,656 shares of the company’s stock valued at $3,409,000 after acquiring an additional 38,924 shares during the period. Pathstone Holdings LLC raised its stake in Palantir Technologies by 14.5% during the third quarter. Pathstone Holdings LLC now owns 108,707 shares of the company’s stock worth $4,044,000 after acquiring an additional 13,797 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Palantir Technologies during the third quarter valued at $1,919,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Palantir Technologies by 73.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 107,455 shares of the company’s stock valued at $3,997,000 after purchasing an additional 45,505 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.