Palantir Technologies (NASDAQ:PLTR) Stock Price Up 2.1% – What’s Next?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded up 2.1% during trading on Wednesday . The company traded as high as $116.35 and last traded at $114.95. 33,085,246 shares were traded during mid-day trading, a decline of 60% from the average session volume of 82,783,508 shares. The stock had previously closed at $112.62.

Analyst Ratings Changes

A number of research firms have recently weighed in on PLTR. The Goldman Sachs Group increased their price target on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Mizuho lifted their price target on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Wedbush raised their target price on Palantir Technologies from $75.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Jefferies Financial Group upped their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Finally, Citigroup upped their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Up 3.2 %

The firm has a market cap of $264.87 billion, a PE ratio of 613.58, a P/E/G ratio of 11.44 and a beta of 2.81. The firm’s 50 day moving average is $79.17 and its 200-day moving average is $54.84.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 1,007,496 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at $411,407,221.68. This trade represents a 13.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the completion of the transaction, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. The trade was a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,833,085 shares of company stock valued at $924,999,929 over the last quarter. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Physician Wealth Advisors Inc. acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at $74,000. CIBC Private Wealth Group LLC boosted its position in shares of Palantir Technologies by 17.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 108,862 shares of the company’s stock valued at $8,233,000 after purchasing an additional 16,479 shares during the period. Life Planning Partners Inc purchased a new position in Palantir Technologies in the 4th quarter worth about $11,663,000. RWA Wealth Partners LLC purchased a new stake in Palantir Technologies during the fourth quarter valued at about $360,000. Finally, Summit Securities Group LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $34,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.