Palantir Technologies (NASDAQ:PLTR) Trading 0.8% Higher – Time to Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) rose 0.8% during mid-day trading on Friday . The company traded as high as $109.07 and last traded at $107.07. Approximately 52,080,186 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 88,576,617 shares. The stock had previously closed at $106.27.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent research reports. Bank of America boosted their price target on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $95.00 in a research note on Tuesday, February 4th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group upped their price objective 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. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.21.

Palantir Technologies Stock Down 4.6 %

The company has a 50 day moving average of $85.87 and a 200-day moving average of $59.60. The stock has a market capitalization of $230.84 billion, a P/E ratio of 533.36, a PEG ratio of 10.84 and a beta of 2.81.

Insider Transactions at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $42,002.40. This represents a 99.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,680,992 shares of company stock worth $473,395,877. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Palantir Technologies by 96.4% during the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Norges Bank acquired a new position in Palantir Technologies during the 4th quarter worth $1,360,191,000. Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Palantir Technologies by 504.0% during the fourth 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 institutional investors and hedge funds.

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.