Palantir Technologies (NASDAQ:PLTR) Raised to “Market Perform” at William Blair

Palantir Technologies (NASDAQ:PLTR) was upgraded by research analysts at William Blair from an “underperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, MarketBeat.com reports.

Several other research analysts also recently commented on PLTR. Bank of America increased 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, February 4th. Citigroup increased their price objective on Palantir Technologies from $42.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Wedbush reissued an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a research note on Monday. Finally, DA Davidson increased 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, February 4th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $74.79.

Palantir Technologies Price Performance

Shares of PLTR stock opened at $80.46 on Wednesday. The company has a market cap of $188.71 billion, a price-to-earnings ratio of 423.50, a PEG ratio of 10.84 and a beta of 2.81. The stock has a 50 day simple moving average of $87.31 and a 200-day simple moving average of $62.91. Palantir Technologies has a 1-year low of $20.33 and a 1-year high of $125.41.

Insider Activity at Palantir Technologies

In related news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $42,002.40. This trade represents a 99.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather A. Planishek sold 13,891 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total value of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,429,062 shares of company stock worth $106,673,884 in the last three months. 12.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds have recently bought and sold shares of the stock. Copia Wealth Management acquired a new stake in Palantir Technologies in the 4th quarter valued at about $46,000. IronOak Wealth LLC. acquired a new stake in Palantir Technologies in the 4th quarter valued at about $2,024,000. Wood Tarver Financial Group LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at about $251,000. Siemens Fonds Invest GmbH raised its position in Palantir Technologies by 115.5% in the 4th quarter. Siemens Fonds Invest GmbH now owns 46,791 shares of the company’s stock valued at $3,611,000 after purchasing an additional 25,074 shares in the last quarter. Finally, BridgePort Financial Solutions LLC acquired a new stake in Palantir Technologies in the 4th quarter valued at about $188,000. 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.