Palantir Technologies (NASDAQ:PLTR) Trading Up 2% – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded up 2% on Monday . The company traded as high as $81.80 and last traded at $75.52. 70,879,234 shares were traded during mid-day trading, an increase of 2% from the average session volume of 69,269,053 shares. The stock had previously closed at $74.01.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PLTR. DA Davidson lifted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $95.00 in a report on Tuesday, February 4th. Jefferies Financial Group raised 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. Bank of America lifted their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Finally, Daiwa America raised shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.19.

Palantir Technologies Trading Up 5.2 %

The stock has a market capitalization of $182.56 billion, a PE ratio of 409.71, a P/E/G ratio of 10.84 and a beta of 2.74. The stock has a 50 day moving average price of $92.72 and a 200-day moving average price of $71.47.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now owns 88,129 shares of the company’s stock, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares in the company, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,993,175 shares of company stock valued at $253,549,610. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Janus Henderson Group PLC grew its position in shares of Palantir Technologies by 170.0% during the third quarter. Janus Henderson Group PLC now owns 373,534 shares of the company’s stock worth $13,897,000 after purchasing an additional 235,168 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Palantir Technologies during the 3rd quarter valued at approximately $280,000. Quantinno Capital Management LP raised its position in shares of Palantir Technologies by 335.0% during the third quarter. Quantinno Capital Management LP now owns 115,698 shares of the company’s stock valued at $4,304,000 after buying an additional 89,098 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Palantir Technologies by 1.9% in the third quarter. Stifel Financial Corp now owns 948,470 shares of the company’s stock worth $35,283,000 after buying an additional 17,561 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Palantir Technologies by 3,106.8% during the third quarter. Wellington Management Group LLP now owns 775,208 shares of the company’s stock worth $28,838,000 after acquiring an additional 751,034 shares during the last quarter. 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.