Palantir Technologies (NASDAQ:PLTR) Trading 0.8% Higher – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price traded up 0.8% during trading on Friday . The stock traded as high as $109.07 and last traded at $107.07. 52,080,186 shares traded hands during trading, a decline of 41% from the average session volume of 88,576,617 shares. The stock had previously closed at $106.27.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PLTR. DA Davidson increased their price objective on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating 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 stock an “underperform” rating in a research note on Tuesday, February 4th. Robert W. Baird increased their price objective on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $73.21.

Palantir Technologies Price Performance

The firm’s 50 day moving average price is $85.36 and its 200-day moving average price is $58.84. The firm has a market cap of $232.57 billion, a price-to-earnings ratio of 536.07, a P/E/G ratio of 11.52 and a beta of 2.81.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the transaction, the director now directly owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This trade represents a 8.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % 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 ninety days. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLTR. Allspring Global Investments Holdings LLC lifted its position in shares of Palantir Technologies by 227.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock worth $4,546,000 after buying an additional 84,856 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at $62,000. Eastern Bank bought a new stake in shares of Palantir Technologies in the 3rd quarter worth about $112,000. Waldron Private Wealth LLC acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth about $294,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in Palantir Technologies during the 3rd quarter valued at about $284,000. 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.