Palantir Technologies (NASDAQ:PLTR) Trading Up 0.7% – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price traded up 0.7% during trading on Thursday . The company traded as high as $93.65 and last traded at $92.96. 33,901,834 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 66,480,982 shares. The stock had previously closed at $92.28.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. 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. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Wedbush restated an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a research report on Monday, March 3rd. UBS Group upped their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Bank of America raised their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Trading Down 4.7 %

The stock has a fifty day moving average price of $91.98 and a 200 day moving average price of $69.04. The firm has a market cap of $201.35 billion, a price-to-earnings ratio of 451.87, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares in the company, valued at $4,740,584.31. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $51,545.44. This represents a 99.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,379,785 shares of company stock valued at $281,528,938 over the last 90 days. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently modified their holdings of PLTR. Roxbury Financial LLC bought a new stake in Palantir Technologies in the 4th quarter valued at $27,000. First PREMIER Bank bought a new stake in shares of Palantir Technologies in the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC grew its position in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares in the last quarter. HighMark Wealth Management LLC increased its stake in Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after acquiring an additional 166 shares during the period. Finally, Sierra Ocean LLC bought a new position in Palantir Technologies during the fourth quarter valued at about $31,000. 45.65% of the stock is owned by institutional investors.

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.