Palantir Technologies (NYSE:PLTR) Stock Price Up 1.5%

Palantir Technologies Inc. (NYSE:PLTR) traded up 1.5% during mid-day trading on Monday . The stock traded as high as $31.50 and last traded at $31.48. 42,388,000 shares were traded during mid-day trading, a decline of 22% from the average session volume of 54,656,816 shares. The stock had previously closed at $31.00.

Analyst Ratings Changes

PLTR has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group boosted their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research report on Friday, August 2nd. Argus assumed coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 target price on the stock. Finally, Mizuho lowered shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price target for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four 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 an average price target of $25.00.

Palantir Technologies Trading Down 3.1 %

The company has a market cap of $68.31 billion, a P/E ratio of 254.23, a P/E/G ratio of 5.55 and a beta of 2.71. The company’s 50-day moving average price is $28.48 and its two-hundred day moving average price is $24.96.

Palantir Technologies (NYSE:PLTR) last posted its quarterly 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 return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same quarter last year, the business posted $0.01 earnings per share. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. As a group, analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In related news, Director Alexander D. Moore sold 20,422 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 1,587,707 shares in the company, valued at $36,421,998.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Alexander D. Moore sold 20,422 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $22.94, for a total transaction of $468,480.68. Following the completion of the sale, the director now owns 1,587,707 shares of the company’s stock, valued at approximately $36,421,998.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total value of $7,493,016.84. Following the sale, the insider now owns 372,565 shares in the company, valued at $11,180,675.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 728,664 shares of company stock worth $21,997,409. 12.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PLTR. Summit Securities Group LLC bought a new stake in Palantir Technologies in the 2nd quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter worth approximately $25,000. West Paces Advisors Inc. boosted its position in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after buying an additional 620 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in 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. Finally, Bogart Wealth LLC increased its position in Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after acquiring an additional 1,065 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.