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

Equities researchers at Loop Capital initiated coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $141.00 price target on the stock. Loop Capital’s target price indicates a potential upside of 25.83% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. UBS Group lifted their target price on shares of Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Robert W. Baird boosted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, The Goldman Sachs Group boosted their target price 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. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $73.21.

Palantir Technologies Price Performance

NASDAQ:PLTR opened at $112.06 on Thursday. Palantir Technologies has a one year low of $20.33 and a one year high of $125.41. The company’s 50-day simple moving average is $84.70 and its 200 day simple moving average is $58.51. The firm has a market capitalization of $255.27 billion, a P/E ratio of 589.82, a PEG ratio of 12.81 and a beta of 2.81.

Insider Activity at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. This represents a 99.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the transaction, the insider now directly owns 512,006 shares in the company, valued at $59,372,215.76. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,301,387 shares of company stock valued at $575,821,045 over the last 90 days. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently bought and sold shares of the stock. Mather Group LLC. lifted its stake in Palantir Technologies by 101.4% during the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock valued at $67,000 after acquiring an additional 448 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $876,000. Destiny Wealth Partners LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $3,233,000. Finally, State of Alaska Department of Revenue lifted its position in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.