Palantir Technologies (NYSE:PLTR) Shares Up 5.9%

Palantir Technologies Inc. (NYSE:PLTR) shares traded up 5.9% during mid-day trading on Monday . The company traded as high as $25.08 and last traded at $24.71. 49,742,364 shares traded hands during trading, a decline of 18% from the average session volume of 61,018,949 shares. The stock had previously closed at $23.33.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Wedbush reiterated an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research note on Monday. Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 6th. Bank of America lifted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Raymond James lifted 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. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

The stock has a market cap of $55.81 billion, a price-to-earnings ratio of 280.25, a P/E/G ratio of 5.72 and a beta of 2.76. The business’s fifty day simple moving average is $23.36 and its 200 day simple moving average is $20.25.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) 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 firm had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity

In related 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 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 $3,992,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palantir Technologies 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 transaction of $2,640,000.00. Following the transaction, the insider now owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,476,273 shares of company stock valued at $184,783,602. 13.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in Palantir Technologies by 7.5% during the first quarter. Geneos Wealth Management Inc. now owns 12,118 shares of the company’s stock worth $279,000 after purchasing an additional 842 shares during the period. Signaturefd LLC raised its stake in shares of Palantir Technologies by 8.5% in the first quarter. Signaturefd LLC now owns 39,999 shares of the company’s stock valued at $920,000 after purchasing an additional 3,136 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in Palantir Technologies during the first quarter worth $597,000. RIA Advisory Group LLC acquired a new position in Palantir Technologies during the first quarter worth $287,000. Finally, Wellington Shields Capital Management LLC acquired a new position in Palantir Technologies during the first quarter worth $121,000. Institutional investors own 45.65% of the company’s stock.

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.