Palantir Technologies (NASDAQ:PLTR) Coverage Initiated by Analysts at Loop Capital

Equities researchers at Loop Capital began coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a note issued to investors on Thursday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $141.00 price target on the stock. Loop Capital’s target price suggests a potential upside of 25.83% from the stock’s previous close.

Several other research firms have also commented on PLTR. UBS Group boosted their price target on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Jefferies Financial Group upped their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Bank of America upped their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, Citigroup upped their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Price Performance

Shares of NASDAQ PLTR opened at $112.06 on Thursday. The company has a market cap of $255.27 billion, a PE ratio of 589.82, a P/E/G ratio of 12.81 and a beta of 2.81. Palantir Technologies has a 1-year low of $20.33 and a 1-year high of $125.41. The stock has a fifty day moving average price of $84.70 and a 200 day moving average price of $58.51.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 1,620,395 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total value of $102,425,167.95. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $406,583,028.18. This represents a 20.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction on 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 owns 512,006 shares in the company, valued at $59,372,215.76. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,301,387 shares of company stock valued at $575,821,045 in the last quarter. 12.93% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently modified their holdings of PLTR. Allspring Global Investments Holdings LLC grew its holdings 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 purchasing an additional 84,856 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Palantir Technologies during the third quarter worth about $62,000. Eastern Bank bought a new stake in Palantir Technologies in the third quarter worth approximately $112,000. Waldron Private Wealth LLC bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $294,000. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in shares of Palantir Technologies during the third quarter valued at approximately $284,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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.