Palantir Technologies (NASDAQ:PLTR) Trading Up 3.6% – Still a Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) shot up 3.6% on Monday . The stock traded as high as $115.03 and last traded at $114.87. 41,521,075 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 82,002,813 shares. The stock had previously closed at $110.85.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PLTR. The Goldman Sachs Group increased their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Morgan Stanley upgraded Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $95.00 in a research note on Tuesday, February 4th. Northland Securities upped their price target on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, Bank of America raised their price target on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Performance

The firm has a fifty day simple moving average of $79.17 and a 200-day simple moving average of $54.84. The company has a market capitalization of $267.42 billion, a PE ratio of 617.87, a P/E/G ratio of 11.44 and a beta of 2.81.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.10, for a total value of $283,950,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $405,875,479.80. This trade represents a 41.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 5,250,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,833,085 shares of company stock worth $924,999,929 in the last three months. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Roxbury Financial LLC acquired a new position in Palantir Technologies during the 4th quarter valued at approximately $27,000. First PREMIER Bank acquired a new position in Palantir Technologies during the 4th quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its position in Palantir Technologies by 230.4% during the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. HighMark Wealth Management LLC boosted its position in Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares during the period. Finally, Sierra Ocean LLC acquired a new position in Palantir Technologies during the 4th quarter worth $31,000. 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.