Daiwa Capital Markets Initiates Coverage on Palantir Technologies (NASDAQ:PLTR)

Equities research analysts at Daiwa Capital Markets initiated coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report issued to clients and investors on Tuesday. The brokerage set a “neutral” rating and a $90.00 price target on the stock. Daiwa Capital Markets’ price objective indicates a potential upside of 7.11% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. DA Davidson increased their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Wedbush reiterated an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. Northland Securities raised their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $75.19.

Palantir Technologies Stock Down 0.4 %

Shares of PLTR stock traded down $0.37 during mid-day trading on Tuesday, reaching $84.03. 8,566,458 shares of the stock traded hands, compared to its average volume of 67,921,841. The stock’s fifty day simple moving average is $92.23 and its two-hundred day simple moving average is $69.88. The company has a market cap of $197.07 billion, a price-to-earnings ratio of 440.20, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. Palantir Technologies has a 1-year low of $20.33 and a 1-year high of $125.41.

Insider Activity

In related news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $48,988. This represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock valued at $281,528,938 over the last quarter. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds have recently made changes to their positions in the stock. Prestige Wealth Management Group LLC raised its position in Palantir Technologies by 747.1% during the third 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 bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC raised its holdings in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares in the last quarter. Finally, HighMark Wealth Management LLC lifted its position in Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after buying an additional 166 shares during the last quarter. 45.65% of the stock is owned by 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.