Palantir Technologies (NYSE:PLTR) Stock Price Up 0.8%

Palantir Technologies Inc. (NYSE:PLTR) shares were up 0.8% during trading on Wednesday . The stock traded as high as $22.25 and last traded at $21.82. Approximately 12,912,954 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 63,258,164 shares. The stock had previously closed at $21.64.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Mizuho raised their target price on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Wedbush reaffirmed an “outperform” rating and set a $35.00 price target (up from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Finally, Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the company 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 issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Stock Up 0.6 %

The firm’s 50 day moving average is $23.49 and its two-hundred day moving average is $20.01. The stock has a market cap of $48.04 billion, a price-to-earnings ratio of 241.25, a price-to-earnings-growth ratio of 5.29 and a beta of 2.78.

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

Insider Buying and Selling at Palantir Technologies

In related 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 completion of the transaction, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of Palantir Technologies stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 6th. The stock was 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 directly owns 181,460 shares in the company, valued at $3,992,120. The disclosure for this sale can be found here. Insiders have sold 7,456,273 shares of company stock valued at $184,343,202 in the last quarter. Corporate insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC increased its holdings in shares of Palantir Technologies by 74.9% in 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 during the period. First United Bank & Trust purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $26,000. Pacifica Partners Inc. acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at about $27,000. West Paces Advisors Inc. raised its position in Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in Palantir Technologies by 105.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.