Palantir Technologies (NASDAQ:PLTR) Trading Up 0.7% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price rose 0.7% during mid-day trading on Thursday . The stock traded as high as $93.65 and last traded at $92.96. Approximately 33,901,834 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 66,480,982 shares. The stock had previously closed at $92.28.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of analyst reports. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Mizuho raised their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Robert W. Baird lifted their price objective on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. UBS Group increased their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Bank of America boosted their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Price Performance

The firm has a market capitalization of $201.35 billion, a P/E ratio of 451.87, a PEG ratio of 10.84 and a beta of 2.81. The company’s 50 day moving average price is $91.98 and its 200 day moving average price is $69.04.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 512,006 shares in the company, 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. In the last ninety days, insiders have sold 3,379,785 shares of company stock worth $281,528,938. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Prestige Wealth Management Group LLC increased its holdings in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after purchasing an additional 650 shares during the last quarter. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC raised its position in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares during the period. Finally, HighMark Wealth Management LLC boosted 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 worth $30,000 after acquiring an additional 166 shares during the last quarter. 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.