Palantir Technologies (NASDAQ:PLTR) Trading Up 0.6% – Here’s What Happened

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) shot up 0.6% during mid-day trading on Wednesday . The company traded as high as $87.37 and last traded at $84.90. 35,881,704 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 63,886,499 shares. The stock had previously closed at $84.40.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PLTR shares. Loop Capital assumed coverage on Palantir Technologies in a research note on Thursday, February 20th. They issued a “buy” rating and a $141.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Mizuho lifted their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Finally, Robert W. Baird lifted their price target on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $74.79.

Palantir Technologies Stock Up 4.0 %

The business’s fifty day moving average price is $87.18 and its 200 day moving average price is $62.60. The firm has a market capitalization of $200.02 billion, a PE ratio of 461.51, a PEG ratio of 10.84 and a beta of 2.81.

Insider Buying and Selling at Palantir Technologies

In other news, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the sale, the insider now owns 170,273 shares in the company, valued at $12,681,933.04. This represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,439,783 shares of company stock valued at $107,497,043 in the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH lifted its holdings in shares of Palantir Technologies by 115.5% in the 4th quarter. Siemens Fonds Invest GmbH now owns 46,791 shares of the company’s stock valued at $3,611,000 after buying an additional 25,074 shares during the period. BridgePort Financial Solutions LLC purchased a new position in Palantir Technologies in the fourth quarter valued at about $188,000. Park Square Financial Group LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at approximately $272,000. Total Wealth Planning & Management Inc. purchased a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $364,000. Finally, Menard Financial Group LLC grew its holdings in shares of Palantir Technologies by 12.0% in the 4th quarter. Menard Financial Group LLC now owns 23,974 shares of the company’s stock worth $1,813,000 after acquiring an additional 2,566 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.