Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $105.00

Palantir Technologies (NASDAQ:PLTR) had its price target boosted by UBS Group from $80.00 to $105.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

PLTR has been the topic of several other research reports. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Robert W. Baird upped their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Finally, DA Davidson increased their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $69.44.

Palantir Technologies Trading Up 9.8 %

PLTR opened at $111.28 on Tuesday. The company’s fifty day moving average price is $75.56 and its two-hundred day moving average price is $52.26. Palantir Technologies has a 1-year low of $20.33 and a 1-year high of $111.55. The company has a market cap of $253.50 billion, a price-to-earnings ratio of 556.43, a PEG ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The business’s revenue was up 30.0% on a year-over-year basis. As a group, equities analysts forecast that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total value of $1,212,423.20. Following the sale, the director now directly owns 88,129 shares of the company’s stock, valued at $9,059,661.20. This trade represents a 11.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $63.10, for a total transaction of $283,950,000.00. Following the transaction, the insider now directly owns 6,432,258 shares in the company, valued at $405,875,479.80. This trade represents a 41.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,656,687 shares of company stock worth $1,040,105,687. 12.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies in the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC grew its holdings in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $27,000. First PREMIER Bank bought a new position in shares of Palantir Technologies in the fourth quarter worth approximately $28,000. Finally, Wolff Wiese Magana LLC grew its holdings 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 worth $29,000 after purchasing an additional 265 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.