Palantir Technologies (NASDAQ:PLTR) Trading 5.3% Higher – What’s Next?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) rose 5.3% during trading on Monday . The stock traded as high as $97.39 and last traded at $95.79. Approximately 48,213,522 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 66,019,994 shares. The stock had previously closed at $90.96.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PLTR. UBS Group increased their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Mizuho upped their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $120.00 target price on shares of Palantir Technologies in a report on Monday, March 3rd. Loop Capital dropped their price target on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Finally, Jefferies Financial Group increased their target price on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.45.

Palantir Technologies Stock Down 0.2 %

The business has a fifty day moving average of $90.80 and a 200 day moving average of $68.37. The firm has a market cap of $226.35 billion, a P/E ratio of 507.97, a PEG ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In related news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This represents a 2.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the sale, the insider now directly owns 592 shares in the company, valued at $48,988. This trade represents a 99.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,379,785 shares of company stock worth $281,528,938 in the last quarter. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its holdings in Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after purchasing an additional 4,127,306 shares during the period. Northern Trust Corp lifted its holdings in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after purchasing an additional 3,299,779 shares in the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the 4th quarter valued at $1,360,191,000. Finally, FMR LLC increased its stake in Palantir Technologies by 22.6% during the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after purchasing an additional 2,818,090 shares in the last quarter. 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.