Palantir Technologies (NASDAQ:PLTR) Receives “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Palantir Technologies (NASDAQ:PLTR) in a research report sent to investors on Monday,Benzinga reports. Wedbush currently has a $120.00 price objective on the stock.

Several other brokerages have also recently commented on PLTR. Northland Securities raised their target price on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald raised their price objective on shares of Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Mizuho upped their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. Loop Capital began coverage on Palantir Technologies in a report on Thursday, February 20th. They issued a “buy” rating and a $141.00 target price for the company. Finally, UBS Group boosted their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average price target of $74.79.

Palantir Technologies Trading Down 1.8 %

Shares of PLTR stock opened at $83.42 on Monday. The stock has a 50 day moving average of $87.14 and a two-hundred day moving average of $62.23. Palantir Technologies has a 12 month low of $20.33 and a 12 month high of $125.41. The company has a market capitalization of $190.03 billion, a P/E ratio of 439.08, a P/E/G ratio of 10.84 and a beta of 2.81.

Insiders Place Their Bets

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the completion of the sale, the director now owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares of the company’s stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,439,783 shares of company stock valued at $107,497,043. 12.93% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

Hedge funds have recently modified their holdings of the company. BridgePort Financial Solutions LLC acquired a new stake in Palantir Technologies during the 4th quarter worth $188,000. Park Square Financial Group LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $272,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $364,000. Menard Financial Group LLC raised its position in shares of Palantir Technologies by 12.0% during the fourth quarter. Menard Financial Group LLC now owns 23,974 shares of the company’s stock worth $1,813,000 after purchasing an additional 2,566 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Palantir Technologies during the fourth quarter worth about $61,669,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.