Palantir Technologies (NYSE:PLTR) Shares Up 1.5%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was up 1.5% on Wednesday . The stock traded as high as $26.27 and last traded at $26.22. Approximately 9,559,725 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 56,035,000 shares. The stock had previously closed at $25.83.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research reports. Citigroup upped their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Mizuho raised their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. HSBC upped their target price on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Finally, Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research note on Friday, June 21st. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $21.25.

Palantir Technologies Stock Performance

The company has a market capitalization of $57.94 billion, a PE ratio of 218.52, a P/E/G ratio of 5.85 and a beta of 2.71. The company’s 50-day moving average is $22.81 and its 200 day moving average is $21.65.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. On average, analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Peter Thiel sold 5,000,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the sale, the director now owns 15,733,625 shares in the company, valued at $326,944,727.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The disclosure for this sale can be found here. Insiders have sold a total of 11,372,153 shares of company stock valued at $239,941,245 over the last ninety days. 12.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently made changes to their positions in PLTR. First United Bank & Trust purchased a new position in Palantir Technologies during the fourth quarter valued at $26,000. Pacifica Partners Inc. purchased a new position in shares of Palantir Technologies during the 4th quarter valued at about $27,000. West Paces Advisors Inc. grew its stake in shares of Palantir Technologies by 110.7% during 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. Massmutual Trust Co. FSB ADV increased 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 acquiring an additional 691 shares in the last quarter. Finally, Bogart Wealth LLC raised its stake in Palantir Technologies by 332.8% during the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after acquiring an additional 1,065 shares during the period. Institutional investors 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.