Palantir Technologies (NASDAQ:PLTR) Shares Up 1.4% – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) shares were up 1.4% on Thursday . The stock traded as high as $93.62 and last traded at $90.58. Approximately 42,627,893 shares were traded during trading, a decline of 54% from the average daily volume of 93,270,039 shares. The stock had previously closed at $89.31.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PLTR. The Goldman Sachs Group lifted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Royal Bank of Canada lifted their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Citigroup lifted 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. Finally, Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.21.

Palantir Technologies Price Performance

The business’s 50-day simple moving average is $86.79 and its two-hundred day simple moving average is $60.88. The stock has a market capitalization of $193.11 billion, a price-to-earnings ratio of 446.18, a PEG ratio of 10.84 and a beta of 2.81.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction that occurred on 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 $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,719,783 shares of company stock worth $477,414,743. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp raised its position in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares in the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the fourth quarter valued at $1,360,191,000. Geode Capital Management LLC boosted 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 during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Palantir Technologies by 60.5% in the 3rd 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 during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Palantir Technologies by 504.0% in the 4th quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after purchasing an additional 3,907,022 shares in the last quarter. 45.65% of the stock is 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.