Palantir Technologies (NASDAQ:PLTR) Stock Price Up 5.1% - Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shares traded up 5.1% during trading on Friday . The company traded as high as $123.30 and last traded at $122.15. 46,865,144 shares traded hands during trading, a decline of 38% from the average session volume of 74,984,520 shares. The stock had previously closed at $116.20.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Robert W. Baird raised their target price on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Wedbush reaffirmed an "outperform" rating and issued a $120.00 price objective on shares of Palantir Technologies in a research report on Monday, March 3rd. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Mizuho boosted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the stock an "underperform" rating in a research report on Tuesday, February 4th. Finally, UBS Group raised their target price on Palantir Technologies from $80.00 to $105.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and an average price target of $74.71.

Palantir Technologies Trading Up 0.5 %

The company's fifty day simple moving average is $91.17 and its 200 day simple moving average is $79.98. The stock has a market capitalization of $293.07 billion, a P/E ratio of 656.92, a P/E/G ratio of 10.84 and a beta of 2.68.

Insider Buying and Selling

In other news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction dated Tuesday, February 11th. The stock was 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 in the company, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares of the company's stock, valued at approximately $4,983,793.75. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,989,975 shares of company stock worth $253,328,090 over the last ninety days. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Mechanics Financial Corp bought a new position in Palantir Technologies during the 1st quarter worth approximately $25,000. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies in the fourth quarter worth $27,000. First PREMIER Bank bought a new stake in Palantir Technologies during the 4th quarter valued at $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 buying an additional 265 shares during the period. Finally, HighMark Wealth Management LLC grew its holdings in Palantir Technologies by 73.5% in 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 last quarter. 45.65% of the stock is 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.