Palantir Technologies (NYSE:PLTR) Trading Up 0.5% – Here’s What Happened

Shares of Palantir Technologies Inc. (NYSE:PLTR) traded up 0.5% during mid-day trading on Thursday . The company traded as high as $67.56 and last traded at $66.05. 53,839,900 shares were traded during trading, a decline of 8% from the average session volume of 58,839,926 shares. The stock had previously closed at $65.74.

Wall Street Analyst Weigh In

PLTR has been the subject of a number of research reports. Mizuho increased their price target on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. DA Davidson lifted their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group upped their price target on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Monness Crespi & Hardt decreased their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Tuesday, August 6th. Finally, Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $35.64.

Palantir Technologies Stock Up 1.6 %

The company has a market capitalization of $152.81 billion, a price-to-earnings ratio of 335.42, a price-to-earnings-growth ratio of 8.93 and a beta of 2.70. The stock’s 50-day moving average price is $48.86 and its 200-day moving average price is $34.87.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the transaction, the director now owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This represents a 8.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander C. Karp sold 1,620,395 shares of Palantir Technologies stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total value of $102,425,167.95. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $406,583,028.18. This trade represents a 20.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,163,181 shares of company stock worth $1,603,288,758. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in Palantir Technologies by 102.3% in the third quarter. Franklin Resources Inc. now owns 171,653 shares of the company’s stock worth $6,385,000 after purchasing an additional 86,793 shares during the period. Tri Ri Asset Management Corp bought a new stake in shares of Palantir Technologies in the 3rd quarter valued at $23,403,000. Synovus Financial Corp raised its stake in Palantir Technologies by 85.9% during the 3rd quarter. Synovus Financial Corp now owns 17,898 shares of the company’s stock worth $666,000 after buying an additional 8,270 shares during the period. Wilmington Savings Fund Society FSB lifted its holdings in Palantir Technologies by 48.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 17,538 shares of the company’s stock worth $652,000 after acquiring an additional 5,747 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in Palantir Technologies in the third quarter valued at about $347,000. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.