Palantir Technologies (NASDAQ:PLTR) Coverage Initiated at Daiwa Capital Markets

Investment analysts at Daiwa Capital Markets began coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research note issued on Tuesday, Marketbeat reports. The firm set a “neutral” rating and a $90.00 price target on the stock. Daiwa Capital Markets’ target price points to a potential upside of 2.92% from the company’s previous close.

PLTR has been the subject of several other reports. Wedbush restated an “outperform” rating and issued a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. Northland Securities upped their target price on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research report on Tuesday, February 4th. Royal Bank of Canada raised their price target on shares of Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Loop Capital cut their target price on Palantir Technologies from $141.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald lifted their price target on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and a consensus target price of $75.19.

Palantir Technologies Price Performance

Palantir Technologies stock opened at $87.45 on Tuesday. The stock has a market cap of $205.10 billion, a price-to-earnings ratio of 460.29, a price-to-earnings-growth ratio of 10.84 and a beta of 2.81. The firm has a 50-day moving average of $92.68 and a two-hundred day moving average of $70.34. Palantir Technologies has a 1 year low of $20.33 and a 1 year high of $125.41.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total value of $1,610,800.36. Following the sale, the insider now owns 512,006 shares of the company’s stock, valued at $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total value of $1,212,423.20. Following the transaction, the director now owns 88,129 shares of the company’s stock, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,993,175 shares of company stock valued at $253,549,610 over the last 90 days. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its holdings in Palantir Technologies by 87.2% in the third quarter. Glenmede Trust Co. NA now owns 21,558 shares of the company’s stock valued at $802,000 after buying an additional 10,040 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in shares of Palantir Technologies during the 3rd quarter worth about $3,207,000. Hantz Financial Services Inc. increased its holdings in shares of Palantir Technologies by 37.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,585 shares of the company’s stock valued at $96,000 after acquiring an additional 705 shares during the last quarter. Paloma Partners Management Co raised its position in shares of Palantir Technologies by 1,035.0% during the 3rd quarter. Paloma Partners Management Co now owns 19,124 shares of the company’s stock worth $711,000 after acquiring an additional 17,439 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in Palantir Technologies by 128.7% during the third quarter. Benjamin Edwards Inc. now owns 286,198 shares of the company’s stock worth $10,646,000 after purchasing an additional 161,044 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.