Palantir Technologies (NYSE:PLTR) Trading 1% Higher

Palantir Technologies Inc. (NYSE:PLTR)’s stock price rose 1% during trading on Monday . The stock traded as high as $23.09 and last traded at $22.74. Approximately 12,556,001 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 62,088,695 shares. The stock had previously closed at $22.52.

Analyst Ratings Changes

PLTR has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. HSBC downgraded 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. Bank of America boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Jefferies Financial Group upgraded Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Trading Up 0.9 %

The firm’s fifty day moving average is $23.45 and its 200 day moving average is $20.08. The stock has a market cap of $50.30 billion, a P/E ratio of 252.69, a P/E/G ratio of 5.52 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The business had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Research analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the transaction, the director now directly owns 186,783 shares in the company, valued at $4,247,445.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now directly owns 186,783 shares of the company’s stock, valued at $4,247,445.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heather A. Planishek sold 32,828 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the sale, the insider now directly owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The disclosure for this sale can be found here. Insiders have sold a total of 7,456,273 shares of company stock worth $184,343,202 over the last ninety days. Corporate insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. West Paces Advisors Inc. increased its stake 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 worth $27,000 after purchasing an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings 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 worth $31,000 after buying an additional 691 shares during the period. Bogart Wealth LLC boosted its holdings in Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after purchasing an additional 1,065 shares during the period. Halpern Financial Inc. boosted its holdings in Palantir Technologies by 44.0% in the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after purchasing an additional 440 shares during the period. Finally, Pacifica Partners Inc. bought a new stake in Palantir Technologies in the 4th quarter valued at about $27,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

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.