Palantir Technologies (NASDAQ:PLTR) Price Target Raised to $110.00 at Citigroup

Palantir Technologies (NASDAQ:PLTR) had its price objective upped by Citigroup from $42.00 to $110.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently issued reports on PLTR. Northland Securities upped their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday. Royal Bank of Canada upped their price objective on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday. DA Davidson upped their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America upped their price objective on Palantir Technologies from $90.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Mizuho upped their target price on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday. Six analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $69.44.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $110.85 on Wednesday. The business’s 50-day simple moving average is $76.46 and its 200 day simple moving average is $52.67. Palantir Technologies has a one year low of $20.33 and a one year high of $116.30. The stock has a market cap of $252.52 billion, a price-to-earnings ratio of 554.28, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $66.77, for a total transaction of $650,740.42. Following the completion of the transaction, the director now directly owns 111,644 shares of the company’s stock, valued at approximately $7,454,469.88. This trade represents a 8.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,656,687 shares of company stock valued at $1,040,105,687 in the last three months. 12.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Roxbury Financial LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at $27,000. First PREMIER Bank acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at $28,000. Wolff Wiese Magana LLC lifted its position in shares of 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 acquiring an additional 265 shares during the last quarter. HighMark Wealth Management LLC lifted its position 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 valued at $30,000 after acquiring an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at $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.