Palantir Technologies (NASDAQ:PLTR) Earns Buy Rating from Analysts at Loop Capital

Loop Capital began coverage on shares of Palantir Technologies (NASDAQ:PLTR) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $141.00 price target on the stock.

PLTR has been the subject of a number of other research reports. Robert W. Baird boosted 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. Bank of America boosted their target price on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Royal Bank of Canada boosted their target price 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 upped their price objective on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, DA Davidson upped their price objective on Palantir Technologies from $47.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.21.

Palantir Technologies Stock Down 5.2 %

PLTR stock opened at $106.27 on Thursday. The company has a market cap of $242.09 billion, a P/E ratio of 559.35, a PEG ratio of 11.52 and a beta of 2.81. Palantir Technologies has a twelve month low of $20.33 and a twelve month high of $125.41. The business has a fifty day moving average of $85.36 and a 200-day moving average of $58.84.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 11,794 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now directly owns 88,129 shares of the company’s stock, valued at $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,680,992 shares of company stock valued at $473,395,877. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in Palantir Technologies by 227.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 122,200 shares of the company’s stock valued at $4,546,000 after purchasing an additional 84,856 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Palantir Technologies during the third quarter valued at approximately $62,000. Eastern Bank acquired a new position in Palantir Technologies during the third quarter valued at approximately $112,000. Waldron Private Wealth LLC acquired a new position in Palantir Technologies during the third quarter valued at approximately $294,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in Palantir Technologies during the third quarter valued at approximately $284,000. 45.65% of the stock is 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.