Palantir Technologies (NASDAQ:PLTR) Shares Up 1.1% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR) rose 1.1% during mid-day trading on Tuesday . The stock traded as high as $125.00 and last traded at $120.53. Approximately 39,157,102 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 81,349,719 shares. The stock had previously closed at $119.16.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PLTR shares. Royal Bank of Canada raised their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. DA Davidson increased their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, Robert W. Baird lifted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.21.

Palantir Technologies Stock Down 5.2 %

The company has a market cap of $242.09 billion, a P/E ratio of 559.35, a P/E/G ratio of 12.81 and a beta of 2.81. The business has a fifty day moving average of $84.70 and a 200 day moving average of $58.51.

Insider Activity

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the completion of the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 1,620,395 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $63.21, for a total transaction of $102,425,167.95. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $406,583,028.18. The trade was a 20.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,301,387 shares of company stock valued at $575,821,045. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

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