Palantir Technologies (NASDAQ:PLTR) Trading Up 0.8% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR) rose 0.8% during trading on Friday . The company traded as high as $109.07 and last traded at $107.07. Approximately 52,080,186 shares were traded during trading, a decline of 41% from the average daily volume of 88,576,617 shares. The stock had previously closed at $106.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PLTR shares. Bank of America upped their target price on 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 upped their price objective for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Mizuho boosted their price target 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. Finally, Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Stock Down 4.6 %

The firm has a 50-day moving average of $85.87 and a two-hundred day moving average of $59.60. The stock has a market capitalization of $230.84 billion, a price-to-earnings ratio of 533.36, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81.

Insider Activity

In related news, insider Shyam Sankar sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $50,128,019.74. The trade was a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the transaction, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,680,992 shares of company stock worth $473,395,877 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors have recently bought and sold shares of the company. Prestige Wealth Management Group LLC lifted its holdings in shares of Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the last quarter. Roxbury Financial LLC acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $27,000. First PREMIER Bank bought a new stake in Palantir Technologies in the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC increased its stake in shares of Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after purchasing an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its holdings in shares of Palantir Technologies by 73.5% during the 4th 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.