Palantir Technologies (NASDAQ:PLTR) Stock Price Up 0.4% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price rose 0.4% on Thursday . The stock traded as high as $118.39 and last traded at $117.86. Approximately 25,743,290 shares traded hands during trading, a decline of 69% from the average daily volume of 82,310,828 shares. The stock had previously closed at $117.39.

Analysts Set New Price Targets

PLTR has been the topic of a number of recent research reports. Robert W. Baird upped their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Royal Bank of Canada increased their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Cantor Fitzgerald increased their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America increased their target price on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Northland Securities upped their price target on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Down 0.5 %

The stock has a fifty day moving average of $80.12 and a 200-day moving average of $55.28. The stock has a market cap of $266.21 billion, a PE ratio of 614.54, a price-to-earnings-growth ratio of 11.44 and a beta of 2.81.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 1,007,496 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $63.96, for a total value of $64,439,444.16. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. This represents a 13.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares of the company’s stock, valued at $4,740,584.31. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,833,085 shares of company stock valued at $924,999,929. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. raised its stake in Palantir Technologies by 46.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,200 shares of the company’s stock valued at $82,000 after buying an additional 700 shares in the last quarter. ORG Wealth Partners LLC bought a new position in shares of Palantir Technologies during the third quarter valued at approximately $65,000. Sapient Capital LLC bought a new position in shares of Palantir Technologies during the third quarter valued at approximately $206,000. Magnus Financial Group LLC grew its holdings in Palantir Technologies by 3.6% in the 3rd quarter. Magnus Financial Group LLC now owns 27,066 shares of the company’s stock worth $1,007,000 after buying an additional 941 shares in the last quarter. Finally, Cascade Investment Group Inc. bought a new position in Palantir Technologies in the 3rd quarter worth approximately $257,000. Hedge funds and other institutional investors 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.