Palantir Technologies (NYSE:PLTR) Shares Up 0.6%

Palantir Technologies Inc. (NYSE:PLTR)’s share price rose 0.6% during trading on Wednesday . The company traded as high as $36.72 and last traded at $36.66. Approximately 17,921,560 shares were traded during trading, a decline of 67% from the average daily volume of 54,913,188 shares. The stock had previously closed at $36.45.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Bank of America upped their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group upped their price target on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, DA Davidson increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.79.

Palantir Technologies Trading Up 0.0 %

The stock’s 50 day moving average is $30.04 and its two-hundred day moving average is $25.66. The stock has a market capitalization of $81.65 billion, a price-to-earnings ratio of 305.53, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm 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 firm’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 earnings per share. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In other news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction dated 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 approximately $232,011,546.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the firm’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 completion of the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at $24,352,627.10. The disclosure for this sale can be found here. Insiders have sold 5,377,238 shares of company stock worth $190,013,572 over the last ninety days. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the company. Summit Securities Group LLC bought a new stake in Palantir Technologies in the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. bought a new stake in Palantir Technologies in the 2nd quarter valued at $25,000. West Paces Advisors Inc. raised its stake in Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the 2nd quarter valued at $30,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares during the period. 45.65% of the stock is 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.