Palantir Technologies (NASDAQ:PLTR) Coverage Initiated at Loop Capital

Stock analysts at Loop Capital initiated coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $141.00 price target on the stock. Loop Capital’s target price would indicate a potential upside of 39.14% from the company’s previous close.

Several other brokerages have also issued reports on PLTR. DA Davidson raised their target price on Palantir Technologies from $47.00 to $105.00 and gave the stock a “neutral” rating in a research 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 report on Tuesday, February 4th. Royal Bank of Canada lifted their price objective on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald lifted their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group lifted their price objective on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.21.

Palantir Technologies Stock Down 4.6 %

NASDAQ PLTR opened at $101.33 on Thursday. Palantir Technologies has a twelve month low of $20.33 and a twelve month high of $125.41. The company has a market cap of $230.84 billion, a price-to-earnings ratio of 533.36, a price-to-earnings-growth ratio of 11.52 and a beta of 2.81. The business’s fifty day moving average is $85.87 and its 200 day moving average is $59.37.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $66.59, for a total transaction of $1,997,700.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $50,128,019.74. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction, the director now owns 111,644 shares in the company, valued at $7,454,469.88. This trade represents a 8.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,680,992 shares of company stock valued at $473,395,877 over the last ninety days. 12.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of PLTR. Continuum Advisory LLC grew its stake in Palantir Technologies by 3.8% during the fourth quarter. Continuum Advisory LLC now owns 2,670 shares of the company’s stock worth $202,000 after purchasing an additional 98 shares during the period. Heritage Wealth Management Inc. CA increased its position in shares of Palantir Technologies by 0.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 29,024 shares of the company’s stock valued at $2,195,000 after acquiring an additional 111 shares during the last quarter. True Wealth Design LLC increased its position in shares of Palantir Technologies by 29.3% during the fourth quarter. True Wealth Design LLC now owns 503 shares of the company’s stock valued at $38,000 after acquiring an additional 114 shares during the last quarter. Westover Capital Advisors LLC increased its position in Palantir Technologies by 1.8% in the fourth quarter. Westover Capital Advisors LLC now owns 7,330 shares of the company’s stock worth $554,000 after buying an additional 130 shares during the last quarter. Finally, Tritonpoint Wealth LLC increased its position in Palantir Technologies by 1.9% in the fourth quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after buying an additional 132 shares during the last quarter. 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.