Palantir Technologies (NASDAQ:PLTR) Trading 4.4% Higher – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price rose 4.4% during trading on Tuesday . The stock traded as high as $80.37 and last traded at $79.73. Approximately 41,373,782 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 63,972,483 shares. The stock had previously closed at $76.38.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PLTR shares. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Jefferies Financial Group raised their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Northland Securities raised their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a report on Tuesday, February 4th. Finally, Citigroup upped their target price on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $75.25.

Palantir Technologies Stock Up 4.1 %

The company has a market cap of $186.49 billion, a P/E ratio of 418.00, a PEG ratio of 10.84 and a beta of 2.81. The company has a 50 day moving average price of $87.41 and a 200-day moving average price of $64.03.

Insider Activity at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 6,776 shares of Palantir Technologies stock in a transaction dated Wednesday, March 5th. The stock was 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 of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was 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 owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,435,838 shares of company stock worth $107,260,889 in the last 90 days. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently made changes to their positions in the business. Prestige Wealth Management Group LLC increased its holdings in shares of Palantir Technologies by 747.1% in the third 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 in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $28,000. Wolff Wiese Magana LLC lifted its holdings in shares of Palantir Technologies by 230.4% during the fourth 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 position in shares of 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 period. Institutional investors and hedge funds 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.