Palantir Technologies (NYSE:PLTR) Trading 0.6% Higher

Palantir Technologies Inc. (NYSE:PLTR) shares traded up 0.6% on Monday . The stock traded as high as $36.37 and last traded at $35.82. 23,866,510 shares traded hands during trading, a decline of 56% from the average session volume of 54,796,887 shares. The stock had previously closed at $35.59.

Analyst Ratings Changes

Several research firms recently issued reports on PLTR. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Jefferies Financial Group increased their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. DA Davidson increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Finally, Bank of America boosted their price target on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $26.79.

Palantir Technologies Stock Performance

The stock has a market cap of $81.06 billion, a PE ratio of 303.17, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72. The company’s 50-day moving average price is $30.04 and its 200 day moving average price is $25.66.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 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 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter last year, the firm posted $0.01 earnings per share. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. Insiders sold a total of 5,377,238 shares of company stock worth $190,013,572 over the last ninety days. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after acquiring an additional 6,466,596 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in Palantir Technologies by 248,208.2% in the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after buying an additional 3,623,840 shares during the last quarter. Marshall Wace LLP raised its stake in Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after buying an additional 3,038,861 shares in the last quarter. Norges Bank purchased a new stake in Palantir Technologies during the 4th quarter worth about $46,542,000. Finally, Coatue Management LLC boosted its position in shares of Palantir Technologies by 285.6% during the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock worth $59,191,000 after acquiring an additional 2,553,432 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.