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

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price shot 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 traded hands during mid-day trading, a decline of 58% from the average session volume of 67,997,045 shares. The stock had previously closed at $84.40.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. William Blair set a $84.00 price target on shares of Palantir Technologies in a research report on Wednesday, March 5th. Royal Bank of Canada boosted their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. DA Davidson raised their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Finally, Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $60.00 to $95.00 in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $75.19.

Palantir Technologies Stock Down 0.7 %

The firm has a market capitalization of $196.57 billion, a price-to-earnings ratio of 441.30, a P/E/G ratio of 10.84 and a beta of 2.81. The business has a 50-day moving average price of $92.23 and a 200-day moving average price of $69.88.

Insider Buying and Selling at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 310,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $87.07, for a total transaction of $26,991,700.00. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at $51,545.44. This trade represents a 99.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now owns 195,393 shares of the company’s stock, 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. Insiders sold 3,379,785 shares of company stock valued at $281,528,938 over the last quarter. 12.93% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew its stake in Palantir Technologies by 52.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 7,704 shares of the company’s stock worth $650,000 after acquiring an additional 2,642 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at about $2,058,000. M1 Capital Management LLC acquired a new position in shares of Palantir Technologies during the fourth quarter worth $394,000. Objective Capital Management LLC purchased a new stake in Palantir Technologies during the 4th quarter worth $216,000. Finally, Thoma Capital Management LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth about $383,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.