Palantir Technologies (NASDAQ:PLTR) Trading 2.2% Higher – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) rose 2.2% on Wednesday . The stock traded as high as $81.83 and last traded at $79.03. Approximately 51,261,765 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 70,004,698 shares. The stock had previously closed at $77.32.

Analyst Ratings Changes

Several brokerages recently issued reports on PLTR. Daiwa Capital Markets initiated coverage on Palantir Technologies in a report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective for the company. 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 note on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a research note on Monday, March 3rd. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, UBS Group upped their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $75.19.

Palantir Technologies Stock Down 0.0 %

The business’s fifty day moving average is $93.12 and its 200-day moving average is $72.66. The stock has a market capitalization of $207.68 billion, a PE ratio of 466.08, a P/E/G ratio of 10.84 and a beta of 2.74.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at approximately $4,983,793.75. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 6,776 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $86.63, for a total transaction of $587,004.88. Following the sale, the director now owns 184,617 shares of the company’s stock, valued at approximately $15,993,370.71. This represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,989,975 shares of company stock valued at $253,328,090 in the last ninety days. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. boosted its holdings in Palantir Technologies by 101.4% in the 4th quarter. Mather Group LLC. now owns 890 shares of the company’s stock worth $67,000 after acquiring an additional 448 shares during the period. Diversify Wealth Management LLC purchased a new position in shares of Palantir Technologies in the fourth quarter valued at $876,000. Destiny Wealth Partners LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $3,233,000. Coldstream Capital Management Inc. purchased a new stake in Palantir Technologies during the 3rd quarter worth $639,000. Finally, Kieckhefer Group LLC acquired a new position in Palantir Technologies in the 4th quarter worth $11,769,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.