Palantir Technologies (NYSE:PLTR) Stock Price Up 3.9%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price rose 3.9% during trading on Tuesday . The company traded as high as $22.06 and last traded at $21.79. Approximately 15,849,127 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 63,628,273 shares. The stock had previously closed at $20.97.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. HSBC cut shares of Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price for the company. in a report on Wednesday, February 14th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and upped their target price for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Raymond James increased their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Finally, Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and increased their price target for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Price Performance

The business’s 50-day moving average price is $23.68 and its 200 day moving average price is $19.95. The firm has a market capitalization of $48.02 billion, a price-to-earnings ratio of 241.03, a PEG ratio of 5.02 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The firm had revenue of $608.35 million for the quarter, compared to analyst estimates 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 other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $18,819,650. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now owns 181,460 shares in the company, valued at $3,992,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shyam Sankar sold 29,168 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the transaction, the insider now owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The disclosure for this sale can be found here. Insiders have sold 7,456,273 shares of company stock valued at $184,343,202 over the last ninety days. Corporate insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truvestments Capital LLC boosted its position 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 valued at $26,000 after purchasing an additional 700 shares in the last quarter. First United Bank & Trust bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $26,000. Pacifica Partners Inc. bought a new position in shares of Palantir Technologies during the 4th quarter valued at about $27,000. West Paces Advisors Inc. boosted its position in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

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.