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

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on PLTR shares. DA Davidson boosted their target price on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Jefferies Financial Group upped their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Royal Bank of Canada boosted their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Robert W. Baird upped their price target on Palantir Technologies from $70.00 to $100.00 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. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $69.44.

Palantir Technologies Stock Up 1.1 %

The company’s 50 day moving average price is $81.90 and its two-hundred day moving average price is $56.35. The stock has a market cap of $271.45 billion, a P/E ratio of 627.19, a P/E/G 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 stock in a transaction on Wednesday, November 20th. The stock was 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 approximately $405,296,576.58. This represents a 0.59 % decrease in their position. The sale 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 stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now 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. Insiders sold a total of 9,346,976 shares of company stock worth $642,660,729 over the last 90 days. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Heritage Wealth Management Inc. CA increased its position in shares of Palantir Technologies by 0.4% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares during the period. Westover Capital Advisors LLC increased its position in shares of Palantir Technologies by 1.8% in the 4th 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 period. Tritonpoint Wealth LLC increased its position in shares of Palantir Technologies by 1.9% in the 4th 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 period. Twin Peaks Wealth Advisors LLC increased its position in shares of Palantir Technologies by 2.2% in the 4th 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 period. Finally, Truvestments Capital LLC increased its position in shares of Palantir Technologies by 1.2% in the 4th 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 period. 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.