Palantir Technologies (NASDAQ:PLTR) Stock Price Up 2.6% Following Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price rose 2.6% during trading on Friday after Mizuho raised their price target on the stock from $37.00 to $44.00. Mizuho currently has an underperform rating on the stock. Palantir Technologies traded as high as $76.50 and last traded at $76.14. Approximately 33,510,847 shares were traded during trading, a decline of 45% from the average daily volume of 60,538,582 shares. The stock had previously closed at $74.21.

Several other research firms also recently commented on PLTR. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Wedbush raised their price target on shares of Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Robert W. Baird assumed coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target for the company. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.00.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 450,000 shares of Palantir Technologies stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. The trade was a 99.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,655 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $38.17, for a total transaction of $254,021.35. Following the completion of the transaction, the director now directly owns 145,625 shares in the company, valued at $5,558,506.25. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,612,366 shares of company stock valued at $1,867,342,292. 12.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clear Creek Financial Management LLC increased its position in shares of Palantir Technologies by 2.3% during the second quarter. Clear Creek Financial Management LLC now owns 28,533 shares of the company’s stock valued at $723,000 after buying an additional 650 shares during the period. Raymond James Trust N.A. purchased a new stake in shares of Palantir Technologies during the second quarter valued at approximately $241,000. Bank of New York Mellon Corp boosted its stake in shares of Palantir Technologies by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 7,326,275 shares of the company’s stock valued at $185,575,000 after purchasing an additional 292,885 shares during the period. Rational Advisors LLC bought a new position in shares of Palantir Technologies during the second quarter valued at approximately $203,000. Finally, SlateStone Wealth LLC raised its holdings in shares of Palantir Technologies by 90.7% during the second quarter. SlateStone Wealth LLC now owns 104,599 shares of the company’s stock valued at $2,649,000 after acquiring an additional 49,763 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Up 8.5 %

The business has a fifty day moving average of $59.06 and a 200 day moving average of $40.26. The company has a market cap of $183.49 billion, a P/E ratio of 402.77, a P/E/G ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.