Palantir Technologies (NYSE:PLTR) Trading Up 1.4%

Palantir Technologies Inc. (NYSE:PLTR) traded up 1.4% on Monday . The company traded as high as $24.02 and last traded at $23.89. 8,526,003 shares were traded during mid-day trading, a decline of 85% from the average session volume of 57,229,141 shares. The stock had previously closed at $23.57.

Wall Street Analysts Forecast Growth

PLTR has been the topic of several recent research reports. Citigroup lifted their target price on Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. HSBC lifted their price objective on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Argus began coverage on shares of Palantir Technologies in a report on Monday. They set a “buy” rating and a $29.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research note on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Tuesday, May 7th. Five analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.25.

Palantir Technologies Stock Performance

The company has a market capitalization of $55.05 billion, a P/E ratio of 199.10, a PEG ratio of 5.44 and a beta of 2.70. The business has a fifty day moving average of $22.05 and a 200-day moving average of $21.07.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 2,398 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the sale, the insider now owns 639,696 shares in the company, valued at $13,625,524.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $24.24, for a total value of $72,720.00. Following the transaction, the director now owns 35,843 shares of the company’s stock, valued at $868,834.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 2,398 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the transaction, the insider now owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,374,153 shares of company stock valued at $239,976,945. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Halpern Financial Inc. raised its position in Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after acquiring an additional 440 shares during the period. Harbor Investment Advisory LLC grew its holdings in Palantir Technologies by 16.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock valued at $74,000 after buying an additional 463 shares in the last quarter. Principle Wealth Partners LLC increased its holdings in Palantir Technologies by 4.8% during the 1st quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock worth $241,000 after acquiring an additional 481 shares during the period. GSB Wealth Management LLC increased its holdings in shares of Palantir Technologies by 4.6% in the first quarter. GSB Wealth Management LLC now owns 13,475 shares of the company’s stock worth $310,000 after purchasing an additional 595 shares during the period. Finally, Fiduciary Alliance LLC raised its holdings in shares of Palantir Technologies by 1.0% in the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after acquiring an additional 618 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.