Palantir Technologies (NYSE:PLTR) Shares Up 1.7%

Palantir Technologies Inc. (NYSE:PLTR) shares rose 1.7% on Tuesday . The stock traded as high as $26.43 and last traded at $26.32. Approximately 12,066,009 shares changed hands during trading, a decline of 79% from the average daily volume of 56,252,379 shares. The stock had previously closed at $25.88.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wedbush reiterated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a research note on Monday, May 6th. Bank of America boosted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday, May 7th. Finally, DA Davidson raised their target price on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.25.

Palantir Technologies Stock Performance

The company’s fifty day moving average price is $22.89 and its 200-day moving average price is $21.68. The stock has a market cap of $57.52 billion, a P/E ratio of 215.27, a price-to-earnings-growth ratio of 5.96 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The business had revenue of $634.34 million during the quarter, compared to analyst estimates of $614.88 million. Analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total value of $78,000.00. Following the completion of the sale, the director now directly owns 32,843 shares of the company’s stock, valued at approximately $853,918. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total transaction of $78,000.00. Following the transaction, the director now directly owns 32,843 shares in the company, valued at approximately $853,918. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Thiel sold 5,000,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $20.78, for a total value of $103,900,000.00. Following the completion of the sale, the director now owns 15,733,625 shares of the company’s stock, valued at $326,944,727.50. The disclosure for this sale can be found here. Insiders have sold 11,372,153 shares of company stock valued at $239,941,245 in the last 90 days. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares in the last quarter. Morgan Stanley boosted its position in Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after acquiring an additional 4,675,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after acquiring an additional 1,980,495 shares during the period. ARK Investment Management LLC raised its position in shares of Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after acquiring an additional 1,514,232 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its stake in shares of Palantir Technologies by 19.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after purchasing an additional 1,580,548 shares during the last quarter. Hedge funds and other 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.