Palantir Technologies (NASDAQ:PLTR) Trading 0.8% Higher – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price shot 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 changed 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

PLTR has been the subject of several research analyst reports. Royal Bank of Canada upped their price objective on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Robert W. Baird upped their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley raised Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $60.00 to $95.00 in a research report on Tuesday, February 4th. Bank of America increased their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, DA Davidson lifted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.21.

Palantir Technologies Stock Down 3.9 %

The stock has a market cap of $232.57 billion, a PE ratio of 536.07, a P/E/G ratio of 11.52 and a beta of 2.81. The business’s fifty day moving average is $85.36 and its 200 day moving average is $58.84.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the sale, the director now directly owns 88,129 shares of the company’s stock, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their position. The sale was disclosed in a document filed 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 dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,680,992 shares of company stock valued at $473,395,877. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Norges Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter worth $1,360,191,000. Geode Capital Management LLC grew its stake in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.