Daiwa Capital Markets Begins Coverage on Palantir Technologies (NASDAQ:PLTR)

Daiwa Capital Markets assumed coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report sent to investors on Tuesday, Marketbeat reports. The brokerage issued a neutral rating and a $90.00 price target on the stock.

Several other brokerages also recently commented on PLTR. Royal Bank of Canada lifted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. Cantor Fitzgerald upped their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. DA Davidson raised their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Northland Securities upped their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies has a consensus rating of “Hold” and an average price target of $75.19.

Palantir Technologies Price Performance

PLTR opened at $83.60 on Tuesday. The stock’s 50 day simple moving average is $92.77 and its 200 day simple moving average is $70.43. The firm has a market cap of $196.07 billion, a price-to-earnings ratio of 440.02, a PEG ratio of 10.84 and a beta of 2.74. Palantir Technologies has a 1 year low of $20.33 and a 1 year high of $125.41.

Insiders Place Their Bets

In other news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,993,175 shares of company stock worth $253,549,610. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently made changes to their positions in PLTR. Roxbury Financial LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies during the fourth quarter valued at $28,000. Wolff Wiese Magana LLC boosted its position in shares of Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the last quarter. HighMark Wealth Management LLC increased its holdings in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new position in Palantir Technologies in the 4th quarter worth about $31,000. Hedge funds and other institutional investors 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.