Palantir Technologies (NASDAQ:PLTR) Stock Rating Upgraded by Daiwa America

Palantir Technologies (NASDAQ:PLTR) was upgraded by research analysts at Daiwa America to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other brokerages have also issued reports on PLTR. Morgan Stanley raised shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $95.00 in a report on Tuesday, February 4th. Jefferies Financial Group increased their price target on Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, February 4th. Royal Bank of Canada raised their price target on Palantir Technologies from $11.00 to $40.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 4th. William Blair set a $84.00 price objective on Palantir Technologies in a research report on Wednesday, March 5th. Finally, Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a report on Tuesday. They set a “neutral” rating and a $90.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.19.

Palantir Technologies Stock Performance

NASDAQ:PLTR opened at $87.45 on Tuesday. The company has a market cap of $205.10 billion, a price-to-earnings ratio of 460.29, a P/E/G ratio of 10.84 and a beta of 2.81. The stock’s fifty day moving average price is $92.68 and its two-hundred day moving average price is $70.34. Palantir Technologies has a 52-week low of $20.33 and a 52-week high of $125.41.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 13,891 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the completion of the sale, the insider now owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. This represents a 2.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 98,177 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the completion of the transaction, the insider now directly owns 403,171 shares in the company, valued at $33,382,558.80. This represents a 19.58 % 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 in the last ninety days. 12.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently modified their holdings of the company. Kera Capital Partners Inc. acquired a new position in Palantir Technologies during the 1st quarter valued at about $241,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Palantir Technologies by 52.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 7,704 shares of the company’s stock worth $650,000 after acquiring an additional 2,642 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Palantir Technologies in the 4th quarter worth $2,058,000. M1 Capital Management LLC purchased a new stake in shares of Palantir Technologies in the fourth quarter valued at about $394,000. Finally, Objective Capital Management LLC bought a new position in shares of Palantir Technologies during the fourth quarter valued at about $216,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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.