Palantir Technologies (NASDAQ:PLTR) Trading Up 1.1% – Time to Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) were up 1.1% on Monday . The company traded as high as $120.67 and last traded at $119.16. Approximately 65,372,440 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 76,371,120 shares. The stock had previously closed at $117.91.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PLTR shares. Cantor Fitzgerald raised their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Robert W. Baird raised their target price on Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating 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. Citigroup raised their target price on Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $69.44.

Palantir Technologies Stock Performance

The company has a market capitalization of $271.45 billion, a price-to-earnings ratio of 627.19, a P/E/G ratio of 11.44 and a beta of 2.81. The firm has a 50-day simple moving average of $81.90 and a two-hundred day simple moving average of $56.77.

Insider Buying and Selling at Palantir Technologies

In other news, insider Heather A. Planishek sold 13,891 shares of Palantir Technologies stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the completion of the transaction, the insider now owns 512,006 shares in the company, valued at approximately $59,372,215.76. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of Palantir Technologies stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the transaction, the director now owns 111,644 shares of the company’s stock, valued at $7,454,469.88. The trade was a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,339,480 shares of company stock valued at $578,221,285 in the last three months. 12.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies during the third quarter worth approximately $25,000. Prestige Wealth Management Group LLC lifted its stake in Palantir Technologies by 747.1% during 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 purchased a new stake in Palantir Technologies during the fourth quarter worth approximately $27,000. First PREMIER Bank purchased a new stake in Palantir Technologies during the fourth quarter worth approximately $28,000. Finally, Wolff Wiese Magana LLC lifted its stake in Palantir Technologies by 230.4% during 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. Hedge funds and other institutional investors 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.