Palantir Technologies (NASDAQ:PLTR) Trading Up 4.4% – Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) shares rose 4.4% during trading on Tuesday . The company traded as high as $80.37 and last traded at $79.73. Approximately 41,373,782 shares were traded during trading, a decline of 35% from the average daily volume of 63,972,483 shares. The stock had previously closed at $76.38.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. UBS Group increased their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group lifted their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. DA Davidson increased their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Citigroup upped their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, Royal Bank of Canada increased their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Stock Down 4.8 %

The stock has a market cap of $186.74 billion, a price-to-earnings ratio of 419.07, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The company’s 50-day moving average is $87.62 and its 200-day moving average is $64.49.

Insider Activity at Palantir Technologies

In other news, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction 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. The trade was a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $43,908.64. This represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 985,838 shares of company stock valued at $75,333,389 in the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PLTR. Prestige Wealth Management Group LLC lifted its stake in shares of Palantir Technologies by 747.1% in the 3rd 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 during the period. Roxbury Financial LLC bought a new position in Palantir Technologies during the 4th quarter worth approximately $27,000. First PREMIER Bank acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC grew its holdings in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Finally, HighMark Wealth Management LLC increased its stake in Palantir Technologies by 73.5% in the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.