Palantir Technologies (NASDAQ:PLTR) Shares Gap Up – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $88.55, but opened at $95.80. Palantir Technologies shares last traded at $93.38, with a volume of 35,887,955 shares changing hands.

Analyst Ratings Changes

A number of research firms have issued reports on PLTR. DA Davidson lowered their target price on Palantir Technologies from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday. Mizuho upped their target price on shares of Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a research note on Tuesday, February 4th. William Blair set a $84.00 price target on shares of Palantir Technologies in a report on Wednesday, March 5th. Wedbush restated an “outperform” rating and set a $120.00 price objective on shares of Palantir Technologies in a report on Monday, March 3rd. Finally, Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research note on Tuesday, April 1st. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $74.95.

Palantir Technologies Trading Up 6.2 %

The firm has a market cap of $230.78 billion, a P/E ratio of 517.92, a price-to-earnings-growth ratio of 10.84 and a beta of 2.74. The company’s fifty day moving average price is $92.38 and its two-hundred day moving average price is $73.83.

Insiders Place Their Bets

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at $4,983,793.75. This represents a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexandra W. Schiff sold 6,776 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $86.63, for a total transaction of $587,004.88. Following the completion of the sale, the director now owns 184,617 shares of the company’s stock, valued at $15,993,370.71. The trade was a 3.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,989,975 shares of company stock valued at $253,328,090. 12.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PLTR. Roxbury Financial LLC acquired a new position in shares of Palantir Technologies during the fourth quarter valued at $27,000. First PREMIER Bank acquired a new position in Palantir Technologies during the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC boosted its stake in shares of Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the last quarter. HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% in the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after purchasing an additional 166 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth approximately $31,000. 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.