Palantir Technologies (NASDAQ:PLTR) Shares Gap Up – Should You Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) gapped up prior to trading on Monday . The stock had previously closed at $88.55, but opened at $95.80. Palantir Technologies shares last traded at $93.38, with a volume of 35,887,955 shares.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLTR. Citigroup lifted their price objective on shares of Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. UBS Group upped their price objective on Palantir Technologies from $80.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada increased their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.19.

Palantir Technologies Trading Up 7.1 %

The stock’s fifty day moving average price is $92.81 and its two-hundred day moving average price is $73.27. The firm has a market capitalization of $222.36 billion, a price-to-earnings ratio of 499.03, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74.

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of the company’s 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 directly owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 6,776 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total value of $587,004.88. Following the completion of the transaction, the director now owns 184,617 shares in the company, valued at $15,993,370.71. This trade represents a 3.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. boosted its holdings in shares of Palantir Technologies by 700.0% in the third quarter. Sunbelt Securities Inc. now owns 1,960 shares of the company’s stock valued at $73,000 after acquiring an additional 1,715 shares in the last quarter. M&T Bank Corp boosted its holdings in Palantir Technologies by 37.0% in the 3rd quarter. M&T Bank Corp now owns 170,043 shares of the company’s stock valued at $6,326,000 after purchasing an additional 45,965 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Palantir Technologies during the 3rd quarter worth approximately $347,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Palantir Technologies by 48.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,538 shares of the company’s stock valued at $652,000 after buying an additional 5,747 shares during the period. Finally, Synovus Financial Corp lifted its holdings in shares of Palantir Technologies by 85.9% in the 3rd quarter. Synovus Financial Corp now owns 17,898 shares of the company’s stock valued at $666,000 after buying an additional 8,270 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.