Palantir Technologies (NASDAQ:PLTR) Trading Up 2.5% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR) shot up 2.5% during trading on Tuesday . The stock traded as high as $188.50 and last traded at $187.75. 41,586,956 shares were traded during trading, a decline of 48% from the average session volume of 79,264,125 shares. The stock had previously closed at $183.25.

Analyst Ratings Changes

A number of research firms recently weighed in on PLTR. Citigroup increased their price target on Palantir Technologies from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Wall Street Zen downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Mizuho boosted their price target on shares of Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. Morgan Stanley upped their price target on shares of Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Finally, CICC Research lifted their price objective on shares of Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Five investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $172.28.

Palantir Technologies Stock Up 4.7%

The stock has a market capitalization of $442.58 billion, a PE ratio of 442.13, a P/E/G ratio of 6.87 and a beta of 1.49. The stock’s 50-day moving average is $179.38 and its 200 day moving average is $164.99.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 62.8% on a year-over-year basis. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In other Palantir Technologies news, insider David A. Glazer sold 9,000 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $185.91, for a total value of $1,673,190.00. Following the transaction, the insider directly owned 413,639 shares of the company’s stock, valued at $76,899,626.49. This represents a 2.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $162.36, for a total value of $5,852,753.28. Following the sale, the insider directly owned 251,409 shares of the company’s stock, valued at $40,818,765.24. This trade represents a 12.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,008,844 shares of company stock valued at $164,750,951. 9.23% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently added to or reduced their stakes in PLTR. Signature Resources Capital Management LLC acquired a new position in Palantir Technologies during the second quarter worth $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of Palantir Technologies during the 1st quarter worth about $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter valued at about $27,000. Briaud Financial Planning Inc bought a new position in shares of Palantir Technologies in the 2nd quarter valued at approximately $27,000. Finally, LFA Lugano Financial Advisors SA acquired a new stake in Palantir Technologies in the 2nd quarter worth approximately $27,000. 45.65% of the stock is owned by institutional investors.

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.