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

Palantir Technologies Inc. (NASDAQ:PLTR) has earned a consensus recommendation of “Reduce” from the twenty-four research firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $75.19.

A number of equities analysts recently weighed in on PLTR shares. Wedbush reissued an “outperform” rating and issued a $120.00 price target on shares of Palantir Technologies in a research note on Monday, March 3rd. DA Davidson lifted their target price on shares of Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. UBS Group boosted their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Bank of America raised their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, Citigroup increased their target price on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th.

Palantir Technologies Stock Down 0.0 %

Shares of NASDAQ PLTR opened at $88.55 on Wednesday. The stock’s fifty day simple moving average is $92.81 and its 200 day simple moving average is $73.02. The stock has a market capitalization of $207.68 billion, a price-to-earnings ratio of 466.08, a PEG 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.

Insider Activity

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now owns 61,339 shares of the company’s stock, valued at $4,983,793.75. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,989,975 shares of company stock worth $253,328,090. 12.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Palantir Technologies in the 4th quarter valued at approximately $1,360,191,000. Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the last quarter. Wellington Management Group LLP increased its position in Palantir Technologies by 504.0% during the fourth quarter. Wellington Management Group LLP now owns 4,682,230 shares of the company’s stock worth $354,117,000 after acquiring an additional 3,907,022 shares during the period. Invesco Ltd. raised its stake in Palantir Technologies by 31.2% during the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock valued at $1,115,409,000 after purchasing an additional 3,509,311 shares during the last quarter. Finally, Capital World Investors bought a new stake in Palantir Technologies in the 4th quarter valued at $253,816,000. 45.65% of the stock is currently owned by institutional investors.

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.