Palantir Technologies (NASDAQ:PLTR) Shares Up 0.7% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded up 0.7% during trading on Tuesday . The company traded as high as $85.02 and last traded at $84.96. 28,236,251 shares were traded during trading, a decline of 58% from the average session volume of 67,997,045 shares. The stock had previously closed at $84.40.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of research analyst reports. William Blair set a $84.00 target price on shares of Palantir Technologies in a research note on Wednesday, March 5th. Bank of America boosted their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a research note on Monday, March 3rd. Finally, Daiwa America raised Palantir Technologies to a “hold” rating in a research note on Tuesday. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $75.19.

Palantir Technologies Trading Up 3.3 %

The company has a 50 day moving average of $92.68 and a 200 day moving average of $70.34. The firm has a market cap of $205.10 billion, a price-to-earnings ratio of 460.29, a P/E/G ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In related news, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,993,175 shares of company stock worth $253,549,610 over the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently bought and sold shares of the company. Prestige Wealth Management Group LLC lifted its position in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $27,000. First PREMIER Bank bought a new stake in Palantir Technologies during the fourth quarter worth about $28,000. Wolff Wiese Magana LLC boosted 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 valued at $29,000 after purchasing an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC grew 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. Institutional investors and hedge funds 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.