Palantir Technologies (NASDAQ:PLTR) Trading Up 1.4% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR) traded up 1.4% on Thursday . The company traded as high as $93.62 and last traded at $90.58. 42,627,893 shares were traded during trading, a decline of 54% from the average session volume of 93,270,039 shares. The stock had previously closed at $89.31.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Wedbush boosted their target price on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Loop Capital assumed coverage on Palantir Technologies in a report on Thursday, February 20th. They issued a “buy” rating and a $141.00 target price on the stock. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $73.21.

Palantir Technologies Trading Up 0.1 %

The firm has a fifty day simple moving average of $87.09 and a 200-day simple moving average of $61.43. The stock has a market cap of $193.31 billion, a price-to-earnings ratio of 446.64, a P/E/G ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,689,783 shares of company stock worth $475,417,043. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PLTR. State Street Corp raised its stake in Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the period. Norges Bank acquired a new stake in Palantir Technologies during the 4th quarter worth $1,360,191,000. Geode Capital Management LLC raised its stake in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the period. Finally, Wellington Management Group LLP raised its stake in Palantir Technologies by 504.0% during the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after buying an additional 3,907,022 shares during the period. Institutional investors and hedge funds 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.