Palantir Technologies (NASDAQ:PLTR) Trading Up 5.3% – Here’s Why

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup increased their price target on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Mizuho raised their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday, February 4th. Robert W. Baird increased their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald boosted their target price on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $74.45.

Palantir Technologies Price Performance

The firm’s 50 day moving average price is $89.55 and its two-hundred day moving average price is $67.44. The firm has a market cap of $223.58 billion, a price-to-earnings ratio of 501.76, a P/E/G ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 483,987 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $74.48, for a total transaction of $36,047,351.76. Following the completion of the transaction, the insider now owns 170,273 shares in the company, valued at approximately $12,681,933.04. This represents a 73.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction dated 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 completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $48,988. The trade was a 99.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,379,785 shares of company stock valued at $281,528,938. 12.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in shares of Palantir Technologies by 406.7% during the 3rd quarter. Natixis Advisors LLC now owns 54,742 shares of the company’s stock worth $2,036,000 after buying an additional 43,938 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Palantir Technologies by 73.8% during the third quarter. Thrivent Financial for Lutherans now owns 91,656 shares of the company’s stock worth $3,409,000 after acquiring an additional 38,924 shares during the period. Pathstone Holdings LLC raised its position in Palantir Technologies by 14.5% in the third quarter. Pathstone Holdings LLC now owns 108,707 shares of the company’s stock worth $4,044,000 after acquiring an additional 13,797 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Palantir Technologies by 73.5% in the third quarter. PNC Financial Services Group Inc. now owns 107,455 shares of the company’s stock valued at $3,997,000 after acquiring an additional 45,505 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Palantir Technologies by 76.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 53,665 shares of the company’s stock worth $1,996,000 after purchasing an additional 23,178 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.