Palantir Technologies (NYSE:PLTR) Shares Up 2.3% – What’s Next?

Palantir Technologies Inc. (NYSE:PLTR)’s stock price shot up 2.3% during trading on Wednesday . The stock traded as high as $42.66 and last traded at $42.39. 31,442,729 shares were traded during trading, a decline of 45% from the average session volume of 57,082,090 shares. The stock had previously closed at $41.45.

Analyst Ratings Changes

A number of research analysts have issued reports on PLTR shares. The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Argus started coverage on shares of Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price target on the stock. Jefferies Financial Group increased their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a report on Monday, July 29th. Wedbush upped their target price on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.29.

Palantir Technologies Stock Up 3.9 %

The firm has a market cap of $96.41 billion, a P/E ratio of 353.28 and a beta of 2.72. The stock’s 50-day moving average is $33.03 and its 200-day moving average is $27.05.

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

Insider Transactions at Palantir Technologies

In other news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the transaction, the insider now owns 562,006 shares in the company, valued at $22,452,139.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the transaction, the director now directly owns 69,039 shares in the company, valued at $2,000,059.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the sale, the insider now directly owns 562,006 shares in the company, valued at approximately $22,452,139.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,831,855 shares of company stock valued at $649,330,295. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake 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 in the last quarter. Axiom Advisory LLC boosted its stake in Palantir Technologies by 150.3% in the third quarter. Axiom Advisory LLC now owns 74,285 shares of the company’s stock valued at $2,763,000 after buying an additional 44,612 shares in the last quarter. Park Avenue Securities LLC grew its position in Palantir Technologies by 21.4% in the third quarter. Park Avenue Securities LLC now owns 128,221 shares of the company’s stock valued at $4,770,000 after acquiring an additional 22,645 shares during the last quarter. SG Americas Securities LLC raised its stake in Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after acquiring an additional 102,479 shares in the last quarter. Finally, Accel Wealth Management bought a new stake in shares of Palantir Technologies during the 1st quarter valued at approximately $360,000. 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.