Palantir Technologies (NYSE:PLTR) Stock Price Up 4.2%

Palantir Technologies Inc. (NYSE:PLTR) shot up 4.2% on Thursday . The company traded as high as $31.70 and last traded at $31.63. 16,733,073 shares traded hands during trading, a decline of 69% from the average session volume of 54,584,168 shares. The stock had previously closed at $30.36.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PLTR shares. The Goldman Sachs Group increased their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Monness Crespi & Hardt cut their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Tuesday, August 6th. Argus assumed coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and an average target price of $23.93.

Palantir Technologies Stock Performance

The company has a 50 day moving average of $28.21 and a two-hundred day moving average of $24.87. The stock has a market capitalization of $70.12 billion, a PE ratio of 262.42, a P/E/G ratio of 5.66 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS. As a group, research analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, Director Eric H. Woersching sold 26,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $23.32, for a total value of $606,320.00. Following the transaction, the director now directly owns 38,843 shares of the company’s stock, valued at approximately $905,818.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $24,352,627.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eric H. Woersching sold 26,000 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $23.32, for a total transaction of $606,320.00. Following the completion of the sale, the director now owns 38,843 shares in the company, valued at approximately $905,818.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 714,648 shares of company stock worth $21,567,539. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new stake in Palantir Technologies in the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at $25,000. First United Bank & Trust purchased a new stake in Palantir Technologies during the fourth quarter worth $26,000. West Paces Advisors Inc. grew 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 buying an additional 620 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings 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 valued at $31,000 after buying an additional 691 shares in the last quarter. 45.65% of the stock is 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.