Palantir Technologies (NASDAQ:PLTR) Shares Up 1.1% – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) was up 1.1% on Tuesday . The stock traded as high as $125.00 and last traded at $120.53. Approximately 39,157,102 shares were traded during trading, a decline of 52% from the average daily volume of 81,349,719 shares. The stock had previously closed at $119.16.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PLTR shares. Cantor Fitzgerald upped their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. Jefferies Financial Group lifted their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Royal Bank of Canada upped their target price on shares of Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research report on Tuesday, February 4th. Finally, Wedbush boosted their price objective on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $69.44.

Palantir Technologies Stock Performance

The firm has a market capitalization of $283.89 billion, a P/E ratio of 655.93, a P/E/G ratio of 11.44 and a beta of 2.81. The stock’s 50 day simple moving average is $83.91 and its 200 day simple moving average is $58.13.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the sale, the director now directly owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander C. Karp sold 38,093 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $63.01, for a total transaction of $2,400,239.93. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $405,296,576.58. This trade represents a 0.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,339,480 shares of company stock valued at $578,221,285 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its stake in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after buying an additional 4,127,306 shares during the last quarter. Northern Trust Corp lifted its position in shares of Palantir Technologies by 20.4% during the fourth quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock valued at $1,473,913,000 after buying an additional 3,299,779 shares during the last quarter. Norges Bank bought a new stake in shares of Palantir Technologies in the 4th quarter valued at about $1,360,191,000. Finally, FMR LLC grew its position in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after buying an additional 2,818,090 shares during the last quarter. Hedge funds and other institutional investors 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.