Palantir Technologies Inc. (NYSE:PLTR) Short Interest Update

Palantir Technologies Inc. (NYSE:PLTR) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 67,110,000 shares, an increase of 24.1% from the August 31st total of 54,060,000 shares. Based on an average daily volume of 57,230,000 shares, the days-to-cover ratio is currently 1.2 days.

Palantir Technologies Stock Down 0.7 %

Shares of NYSE:PLTR traded down $0.26 during trading on Friday, reaching $36.84. 43,219,122 shares of the company traded hands, compared to its average volume of 76,918,936. The firm has a fifty day simple moving average of $31.43 and a 200 day simple moving average of $26.31. Palantir Technologies has a 1-year low of $14.48 and a 1-year high of $38.19. The firm has a market cap of $82.50 billion, a P/E ratio of 307.03 and a beta of 2.72.

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

Insider Activity

In related news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the sale, the director now owns 29,817 shares of the company’s stock, valued at approximately $834,876. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the sale, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 50,000 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $24,352,627.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,644,559 shares of company stock worth $346,929,762. 12.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the second quarter worth about $25,000. West Paces Advisors Inc. boosted its holdings 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 purchasing an additional 620 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies in the 2nd quarter valued at approximately $30,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PLTR. Deutsche Bank Aktiengesellschaft raised their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Northland Securities initiated coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price objective for the company. Jefferies Financial Group upped their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.29.

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.