Palantir Technologies (NASDAQ:PLTR) Shares Up 8.5% – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) traded up 8.5% during mid-day trading on Friday . The company traded as high as $86.40 and last traded at $86.36. 47,884,707 shares were traded during trading, a decline of 26% from the average session volume of 64,512,358 shares. The stock had previously closed at $79.62.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Loop Capital decreased their target price on shares of Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday. Mizuho boosted their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 target price on shares of Palantir Technologies in a research report on Wednesday, March 5th. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Northland Securities lifted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday, February 4th. Five 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $74.45.

Palantir Technologies Price Performance

The firm has a market cap of $204.47 billion, a PE ratio of 458.17, a PEG ratio of 10.84 and a beta of 2.81. The business’s 50 day moving average price is $87.71 and its 200 day moving average price is $64.59.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 6,776 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the transaction, the director now directly owns 184,617 shares in the company, valued at approximately $15,993,370.71. The trade was a 3.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 483,987 shares of the business’s stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 569,785 shares of company stock worth $44,474,738. 12.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently bought and sold shares of PLTR. Prestige Wealth Management Group LLC boosted its holdings in 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 last quarter. Roxbury Financial LLC acquired a new position in Palantir Technologies in the 4th quarter valued at about $27,000. First PREMIER Bank acquired a new position in Palantir Technologies in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC boosted its holdings in Palantir Technologies by 230.4% in the 4th 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 boosted its holdings in Palantir Technologies by 73.5% in 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 during 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.