Palantir Technologies (NYSE:PLTR) Trading 0.9% Higher

Palantir Technologies Inc. (NYSE:PLTR)’s share price was up 0.9% during mid-day trading on Friday . The stock traded as high as $31.49 and last traded at $31.29. Approximately 11,322,987 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 54,471,902 shares. The stock had previously closed at $31.00.

Analyst Ratings Changes

Several equities analysts recently weighed in on PLTR shares. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Palantir Technologies in a research report on Friday, August 2nd. HSBC increased their target price on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. The Goldman Sachs Group upped their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Monness Crespi & Hardt lowered their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $25.00.

Palantir Technologies Stock Performance

The company’s fifty day simple moving average is $28.21 and its two-hundred day simple moving average is $24.88. The company has a market capitalization of $70.10 billion, a price-to-earnings ratio of 262.33, a price-to-earnings-growth ratio of 5.66 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last issued its quarterly 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). The company had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,422 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $22.94, for a total transaction of $468,480.68. Following the sale, the director now directly owns 1,587,707 shares of the company’s stock, valued at approximately $36,421,998.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Palantir Technologies news, Director Eric H. Woersching sold 26,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $23.32, for a total value of $606,320.00. Following the completion of the transaction, the director now directly owns 38,843 shares in the company, valued at $905,818.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander D. Moore sold 20,422 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $22.94, for a total value of $468,480.68. Following the sale, the director now owns 1,587,707 shares in the company, valued at $36,421,998.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 714,648 shares of company stock worth $21,567,539. 12.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the last quarter. 1832 Asset Management L.P. increased its position in Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after acquiring an additional 3,623,840 shares during the period. Marshall Wace LLP raised its stake in Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after acquiring an additional 3,038,861 shares in the last quarter. Norges Bank bought a new stake in Palantir Technologies during the 4th quarter valued at $46,542,000. Finally, Coatue Management LLC boosted its position in Palantir Technologies by 285.6% during the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock worth $59,191,000 after acquiring an additional 2,553,432 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.