Palantir Technologies (NASDAQ:PLTR) Stock Price Up 1.1% – Here’s Why

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) rose 1.1% on Monday . The stock traded as high as $120.67 and last traded at $119.16. Approximately 65,372,440 shares were traded during trading, a decline of 14% from the average daily volume of 76,371,120 shares. The stock had previously closed at $117.91.

Analysts Set New Price Targets

A number of brokerages have recently commented on PLTR. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird increased their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. UBS Group increased their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group increased their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and an average target price of $69.44.

Palantir Technologies Trading Down 10.1 %

The business’s fifty day moving average is $83.91 and its 200 day moving average is $58.13. The company has a market cap of $255.27 billion, a P/E ratio of 589.82, a PEG ratio of 12.25 and a beta of 2.81.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of the company’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 1,620,395 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $63.21, for a total value of $102,425,167.95. Following the completion of the transaction, the insider now directly owns 6,432,258 shares in the company, valued at approximately $406,583,028.18. This represents a 20.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,301,387 shares of company stock valued at $575,821,045 in the last 90 days. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Roxbury Financial LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $27,000. First PREMIER Bank bought a new position in Palantir Technologies in the fourth quarter worth about $28,000. Wolff Wiese Magana LLC raised its stake in 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 buying an additional 265 shares in the last quarter. HighMark Wealth Management LLC raised its stake in Palantir Technologies by 73.5% in the fourth 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 bought a new position in Palantir Technologies in the fourth quarter worth about $31,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.