Palantir Technologies (NYSE:PLTR) Trading Up 2.1% After Analyst Upgrade

Palantir Technologies Inc. (NYSE:PLTR) was up 2.1% on Friday after The Goldman Sachs Group raised their price target on the stock from $16.00 to $41.00. The Goldman Sachs Group currently has a neutral rating on the stock. Palantir Technologies traded as high as $57.35 and last traded at $57.08. Approximately 25,481,980 shares traded hands during trading, a decline of 56% from the average daily volume of 57,301,035 shares. The stock had previously closed at $55.88.

Several other research analysts have also issued reports on the company. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a research report on Tuesday, August 6th. Mizuho raised their price objective on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research note on Tuesday, November 5th. Wedbush upped their target price on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.71.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on 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 owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total value of $406,646.46. Following the sale, the director now owns 130,250 shares of the company’s stock, valued at approximately $6,576,322.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,482,878 shares of company stock worth $1,044,202,496. 12.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of PLTR. Summit Securities Group LLC bought a new position in shares of Palantir Technologies during the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Palantir Technologies in the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Palantir Technologies in the second quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC lifted its stake in shares of Palantir Technologies by 269.5% during the 1st quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock valued at $35,000 after buying an additional 1,105 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 4.5 %

The company has a market capitalization of $130.76 billion, a P/E ratio of 292.11 and a beta of 2.70. The company’s fifty day moving average is $40.13 and its 200 day moving average is $30.59.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the business earned $0.03 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. Equities research analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current year.

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.