Palantir Technologies (NASDAQ:PLTR) Trading Up 0.2% - Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price was up 0.2% on Tuesday . The company traded as high as $115.82 and last traded at $114.93. Approximately 34,012,842 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 74,196,025 shares. The stock had previously closed at $114.65.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Northland Securities boosted their price objective on shares of Palantir Technologies from $38.00 to $80.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 4th. Cantor Fitzgerald boosted 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. Wedbush reiterated an "outperform" rating and set a $120.00 price target on shares of Palantir Technologies in a research report on Monday, March 3rd. Loop Capital restated a "buy" rating on shares of Palantir Technologies in a report on Friday, April 4th. Finally, Robert W. Baird lifted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $74.71.

Palantir Technologies Stock Performance

The stock has a market cap of $269.83 billion, a price-to-earnings ratio of 605.05, a P/E/G ratio of 10.84 and a beta of 2.74. The business has a 50-day simple moving average of $89.39 and a two-hundred day simple moving average of $77.85.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the transaction, the insider now owns 702,786 shares of the company's stock, valued at $64,958,509.98. The trade was a 4.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Heather A. Planishek sold 13,891 shares of the firm'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 completion of the transaction, the insider now directly owns 512,006 shares of the company's stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,989,975 shares of company stock valued at $253,328,090. Corporate insiders own 12.93% of the company's stock.

Institutional Trading of Palantir Technologies

A number of large investors have recently added to or reduced their stakes in PLTR. Roxbury Financial LLC acquired a new stake in Palantir Technologies during the 4th quarter valued at $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies in the fourth quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its stake in shares of Palantir Technologies by 230.4% in the fourth 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. HighMark Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 166 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in Palantir Technologies during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 45.65% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.