Palantir Technologies (NASDAQ:PLTR) Shares Up 1.8% – Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded up 1.8% on Wednesday . The stock traded as high as $85.39 and last traded at $85.44. 27,179,135 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 65,027,446 shares. The stock had previously closed at $83.89.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of research reports. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Mizuho upped their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Robert W. Baird lifted their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. UBS Group boosted their target price on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Wedbush restated an “outperform” rating and set a $120.00 target price on shares of Palantir Technologies in a research report on Monday, March 3rd. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Stock Down 2.4 %

The firm has a fifty day simple moving average of $89.08 and a 200-day simple moving average of $66.51. The company has a market capitalization of $200.04 billion, a P/E ratio of 452.67, a P/E/G ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In other news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the transaction, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the company’s 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 directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % 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 worth $281,528,938 over the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. M1 Capital Management LLC acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $394,000. Objective Capital Management LLC acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $216,000. Thoma Capital Management LLC acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $383,000. NorthCrest Asset Manangement LLC acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $366,000. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $50,486,000. 45.65% of the stock is 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.