Palantir Technologies (NYSE:PLTR) Trading Up 0.2%

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report)'s stock price was up 0.2% during trading on Wednesday . The company traded as high as $21.37 and last traded at $21.29. Approximately 7,214,765 shares changed hands during trading, a decline of 88% from the average daily volume of 61,031,691 shares. The stock had previously closed at $21.24.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Jefferies Financial Group raised shares of Palantir Technologies from an "underperform" rating to a "hold" rating and increased their price target for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Royal Bank of Canada raised their target price on Palantir Technologies from $5.00 to $9.00 and gave the stock an "underperform" rating in a research report on Tuesday, May 7th. Bank of America increased their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, March 6th. William Blair restated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Finally, Citigroup increased their target price on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 7th. Five analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $20.65.

Palantir Technologies Price Performance

The company's 50 day moving average price is $22.59 and its 200 day moving average price is $20.72. The firm has a market capitalization of $47.17 billion, a P/E ratio of 176.51, a PEG ratio of 4.94 and a beta of 2.76.

Insider Buying and Selling at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 5,000 shares of the firm's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $24.91, for a total value of $124,550.00. Following the transaction, the director now owns 191,783 shares in the company, valued at $4,777,314.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $24.91, for a total value of $124,550.00. Following the transaction, the director now directly owns 191,783 shares of the company's stock, valued at $4,777,314.53. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Heather A. Planishek sold 32,828 shares of the company's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.95, for a total transaction of $851,886.60. Following the sale, the insider now owns 662,006 shares of the company's stock, valued at approximately $17,179,055.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,449,417 shares of company stock worth $415,467,436. Insiders own 12.93% of the company's stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Palantir Technologies by 34.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,363 shares of the company's stock worth $694,000 after purchasing an additional 11,219 shares during the last quarter. Yousif Capital Management LLC lifted its stake in Palantir Technologies by 4.3% in the third quarter. Yousif Capital Management LLC now owns 18,227 shares of the company's stock valued at $292,000 after acquiring an additional 750 shares during the last quarter. Allworth Financial LP increased its stake in shares of Palantir Technologies by 21.4% during the 3rd quarter. Allworth Financial LP now owns 7,971 shares of the company's stock worth $128,000 after purchasing an additional 1,405 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Palantir Technologies by 3.3% in the 3rd quarter. Teacher Retirement System of Texas now owns 140,431 shares of the company's stock valued at $2,247,000 after purchasing an additional 4,487 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in Palantir Technologies by 4.6% during the third quarter. M&T Bank Corp now owns 76,825 shares of the company's stock worth $1,229,000 after purchasing an additional 3,413 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.