Palantir Technologies (NYSE:PLTR) Sees Strong Trading Volume

Shares of Palantir Technologies Inc. (NYSE:PLTR) saw an uptick in trading volume on Tuesday . 17,064,804 shares changed hands during trading, a decline of 69% from the previous session’s volume of 54,874,367 shares.The stock last traded at $36.06 and had previously closed at $36.31.

Analyst Ratings Changes

A number of research analysts have issued reports on PLTR shares. Raymond James upped their price objective on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group increased their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Jefferies Financial Group lifted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Mizuho cut shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their target price for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Price Performance

The stock has a market capitalization of $81.06 billion, a P/E ratio of 303.33, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72. The stock has a fifty day moving average price of $30.20 and a 200 day moving average price of $25.74.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million during the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the prior year, the business earned $0.01 EPS. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. Research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the completion of the transaction, the director now directly owns 152,280 shares in the company, valued at $5,535,378. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.35, for a total value of $218,100.00. Following the transaction, the director now owns 152,280 shares of the company’s stock, valued at $5,535,378. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Glazer sold 90,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total value of $2,642,400.00. Following the transaction, the insider now directly owns 298,012 shares in the company, valued at $8,749,632.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,383,238 shares of company stock valued at $190,231,672. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Palantir Technologies by 1.6% in 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Palantir Technologies by 15.7% during 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 buying an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC boosted its position in Palantir Technologies by 2.2% during the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after buying an additional 277,623 shares during the period. Legal & General Group Plc grew its holdings in Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after acquiring an additional 167,030 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its position in shares of Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after acquiring an additional 1,580,548 shares during the period. 45.65% of the stock is currently owned by 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.