Palantir Technologies (NASDAQ:PLTR) Trading 0.7% Higher – Still a Buy?

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

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group boosted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Robert W. Baird lifted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, Jefferies Financial Group lifted their price objective on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $74.45.

Palantir Technologies Stock Performance

The firm has a market capitalization of $217.50 billion, a price-to-earnings ratio of 487.90, a PEG ratio of 10.84 and a beta of 2.81. The company has a 50-day moving average price of $91.28 and a 200-day moving average price of $68.54.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the transaction, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 310,000 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $51,545.44. This represents a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,379,785 shares of company stock valued at $281,528,938 in the last ninety days. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently bought and sold shares of PLTR. Prestige Wealth Management Group LLC grew its holdings in Palantir Technologies by 747.1% during the 3rd 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 in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at about $27,000. First PREMIER Bank purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $28,000. Wolff Wiese Magana LLC lifted 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 acquiring an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC grew 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 valued at $30,000 after purchasing an additional 166 shares in the last quarter. Institutional investors and hedge funds 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.