Brokerages Set Palantir Technologies Inc. (NASDAQ:PLTR) Target Price at $74.45

Palantir Technologies Inc. (NASDAQ:PLTR) has been given an average rating of “Reduce” by the twenty-two brokerages that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $74.45.

PLTR has been the subject of a number of recent research reports. DA Davidson lifted their price objective on Palantir Technologies from $47.00 to $105.00 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. Baird R W upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. 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. Finally, UBS Group lifted their price target on Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th.

Insider Buying and Selling

In related news, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $85.30, for a total transaction of $106,625,000.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at approximately $50,497.60. The trade was a 99.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,069,785 shares of company stock valued at $254,537,238. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently made changes to their positions in PLTR. Atria Investments Inc raised its position in shares of Palantir Technologies by 7.5% in the 3rd quarter. Atria Investments Inc now owns 55,014 shares of the company’s stock valued at $2,047,000 after purchasing an additional 3,835 shares in the last quarter. Apollon Wealth Management LLC raised its position in shares of Palantir Technologies by 7.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 26,119 shares of the company’s stock valued at $972,000 after purchasing an additional 1,901 shares in the last quarter. Aptus Capital Advisors LLC raised its position in shares of Palantir Technologies by 3.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 13,392 shares of the company’s stock valued at $498,000 after purchasing an additional 456 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Palantir Technologies by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 682,748 shares of the company’s stock valued at $25,398,000 after purchasing an additional 22,672 shares in the last quarter. Finally, Empower Advisory Group LLC raised its position in shares of Palantir Technologies by 30.6% in the 3rd quarter. Empower Advisory Group LLC now owns 11,285 shares of the company’s stock valued at $420,000 after purchasing an additional 2,644 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 1.3 %

Palantir Technologies stock opened at $87.35 on Friday. The stock has a market cap of $204.87 billion, a PE ratio of 459.76, a P/E/G ratio of 10.84 and a beta of 2.81. The stock has a 50-day moving average price of $88.06 and a 200 day moving average price of $65.86. Palantir Technologies has a 52 week low of $20.33 and a 52 week high of $125.41.

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.