Palantir Technologies (NASDAQ:PLTR) Trading 2.6% Higher – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was up 2.6% on Wednesday . The stock traded as high as $91.27 and last traded at $90.11. Approximately 41,543,014 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 93,214,930 shares. The stock had previously closed at $87.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PLTR shares. Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. DA Davidson lifted their price target on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Loop Capital started coverage on shares of Palantir Technologies in a research report on Thursday, February 20th. They issued a “buy” rating and a $141.00 target price for the company. Robert W. Baird upped their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Bank of America increased their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies has a consensus rating of “Hold” and a consensus price target of $73.21.

Palantir Technologies Stock Performance

The business has a fifty day simple moving average of $86.44 and a 200 day simple moving average of $60.68. The stock has a market cap of $205.44 billion, a price-to-earnings ratio of 474.25, a PEG ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the sale, the director now directly owns 88,129 shares in the company, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies 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 transaction, the insider now owns 512,006 shares in the company, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,719,783 shares of company stock valued at $477,414,743 in the last quarter. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Virtue Capital Management LLC bought a new stake in Palantir Technologies during the fourth quarter worth about $540,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of Palantir Technologies by 0.8% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 215,928 shares of the company’s stock valued at $16,331,000 after purchasing an additional 1,771 shares during the period. Integrated Advisors Network LLC increased its position in Palantir Technologies by 8.0% in the 4th quarter. Integrated Advisors Network LLC now owns 32,795 shares of the company’s stock valued at $2,480,000 after buying an additional 2,429 shares in the last quarter. Liberty Square Wealth Partners LLC bought a new stake in Palantir Technologies during the 4th quarter worth approximately $271,000. Finally, Ameriflex Group Inc. purchased a new position in Palantir Technologies in the fourth quarter worth $1,379,000. 45.65% of the stock is currently owned by 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.