Palantir Technologies (NYSE:PLTR) Trading 1.4% Higher

Palantir Technologies Inc. (NYSE:PLTR) traded up 1.4% on Thursday . The stock traded as high as $37.10 and last traded at $36.90. 19,840,736 shares changed hands during trading, a decline of 64% from the average session volume of 54,984,480 shares. The stock had previously closed at $36.38.

Wall Street Analyst Weigh In

PLTR has been the topic of several recent analyst reports. Bank of America lifted their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their price target for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Argus initiated coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Palantir Technologies in a research report on Monday, September 9th. Finally, DA Davidson upped their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Stock Performance

The company has a market cap of $81.70 billion, a price-to-earnings ratio of 307.50, a P/E/G ratio of 6.16 and a beta of 2.72. The company’s 50 day moving average price is $30.20 and its 200 day moving average price is $25.74.

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

Insider Activity at Palantir Technologies

In other Palantir Technologies news, 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 transaction of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Shyam Sankar sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $24,352,627.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at $232,011,546.06. The disclosure for this sale can be found here. Insiders sold 5,383,238 shares of company stock valued at $190,231,672 over the last ninety days. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PLTR. Vantage Financial Partners LLC raised its position in Palantir Technologies by 20.2% during the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after purchasing an additional 10,124 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Palantir Technologies by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock valued at $44,091,000 after acquiring an additional 228,428 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Palantir Technologies by 44.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 24,492 shares of the company’s stock worth $421,000 after acquiring an additional 7,574 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Palantir Technologies by 3.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 284,995 shares of the company’s stock worth $4,893,000 after acquiring an additional 10,680 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of Palantir Technologies by 185.6% in the 4th quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock valued at $1,317,000 after purchasing an additional 49,839 shares in the last quarter. Institutional investors and hedge funds 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.