Palantir Technologies Inc. (NASDAQ:PLTR) Receives $75.19 Average Target Price from Analysts

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) have earned an average rating of “Reduce” from the twenty-four brokerages that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $75.19.

Several research analysts recently issued reports on PLTR shares. Citigroup increased their price target on shares of Palantir Technologies from $42.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald raised their target price on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Robert W. Baird boosted their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Daiwa Capital Markets started coverage on Palantir Technologies in a research note on Tuesday, April 1st. They set a “neutral” rating and a $90.00 price objective for the company. Finally, UBS Group lifted their price objective on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th.

Palantir Technologies Stock Performance

Shares of PLTR stock opened at $88.55 on Wednesday. The firm has a fifty day moving average of $92.81 and a 200-day moving average of $73.02. The stock has a market cap of $207.68 billion, a price-to-earnings ratio of 466.08, a P/E/G ratio of 10.84 and a beta of 2.74. Palantir Technologies has a 52-week low of $20.33 and a 52-week high of $125.41.

Insiders Place Their Bets

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the sale, the director now owns 88,129 shares in the company, valued at $9,059,661.20. The trade was a 11.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction that occurred 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 owns 512,006 shares in the company, 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. In the last quarter, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors have recently bought and sold shares of PLTR. Norges Bank bought a new position in shares of Palantir Technologies in the 4th quarter worth $1,360,191,000. Geode Capital Management LLC increased its holdings in Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after purchasing an additional 16,598,253 shares during the last quarter. Wellington Management Group LLP lifted its stake in Palantir Technologies by 504.0% in the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock valued at $354,117,000 after buying an additional 3,907,022 shares during the period. Invesco Ltd. boosted its holdings in Palantir Technologies by 31.2% during the fourth quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after buying an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors acquired a new position in shares of Palantir Technologies during the 4th quarter worth about $253,816,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.