Palantir Technologies (NASDAQ:PLTR) Shares Up 1.7% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR) shares rose 1.7% during mid-day trading on Wednesday . The company traded as high as $87.35 and last traded at $86.14. Approximately 31,944,113 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 68,161,481 shares. The stock had previously closed at $84.68.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PLTR. Bank of America boosted their price target on shares of Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Citigroup increased their price objective on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Loop Capital dropped their price objective on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $75.19.

Palantir Technologies Trading Up 3.8 %

The stock has a market cap of $206.11 billion, a price-to-earnings ratio of 462.55, a PEG ratio of 10.84 and a beta of 2.81. The stock’s 50 day moving average is $92.47 and its two-hundred day moving average is $70.22.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,379,785 shares of company stock worth $281,528,938. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

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