Palantir Technologies (NYSE:PLTR) Trading 1% Higher

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded up 1% during trading on Tuesday . The company traded as high as $24.89 and last traded at $24.76. 10,789,233 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 71,854,500 shares. The stock had previously closed at $24.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. HSBC downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a research report on Wednesday, February 14th. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and upped their target price for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Finally, Wedbush reiterated an “outperform” rating and set a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and an average target price of $18.21.

Palantir Technologies Stock Performance

The stock has a 50 day moving average price of $22.40 and a 200 day moving average price of $19.03. The company has a market capitalization of $54.21 billion, a P/E ratio of 272.25, a PEG ratio of 6.10 and a beta of 2.82.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the sale, the insider now directly owns 181,460 shares of the company’s stock, valued at $3,992,120. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $16.11, for a total transaction of $64,440.00. Following the completion of the transaction, the director now directly owns 200,783 shares of the company’s stock, valued at $3,234,614.13. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,455,273 shares of company stock worth $184,293,942. Insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds have recently bought and sold shares of the stock. Truvestments Capital LLC lifted its holdings in shares of Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after acquiring an additional 700 shares during the last quarter. First United Bank & Trust purchased a new stake in Palantir Technologies during the fourth quarter valued at about $26,000. Pacifica Partners Inc. bought a new stake in Palantir Technologies during the fourth quarter worth about $27,000. Resurgent Financial Advisors LLC purchased a new position in shares of Palantir Technologies in the 4th quarter worth about $28,000. Finally, GAMMA Investing LLC bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $33,000. 45.65% of the stock is currently owned by institutional investors.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.