Palantir Technologies (NYSE:PLTR) Price Target Raised to $38.00 at Northland Securities

Palantir Technologies (NYSE:PLTR) had its target price upped by investment analysts at Northland Securities from $35.00 to $38.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Northland Securities’ price target suggests a potential downside of 24.83% from the company’s previous close.

A number of other equities analysts have also issued reports on PLTR. Mizuho raised their price target on shares of Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a research report on Thursday, October 17th. Citigroup boosted their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. 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 report on Wednesday, August 7th. Monness Crespi & Hardt cut their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Finally, Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Five 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.57.

Palantir Technologies Trading Up 22.1 %

NYSE PLTR traded up $9.14 during trading hours on Tuesday, hitting $50.55. 155,901,438 shares of the company’s stock traded hands, compared to its average volume of 56,635,648. Palantir Technologies has a 52 week low of $15.66 and a 52 week high of $51.19. The firm has a market capitalization of $113.20 billion, a P/E ratio of 297.37 and a beta of 2.70. The business’s fifty day moving average price is $38.19 and its two-hundred day moving average price is $29.75.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share. On average, sell-side analysts expect that Palantir Technologies will post 0.19 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the sale, the insider now directly owns 331,369 shares in the company, valued at approximately $14,911,605. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,204,508 shares of company stock valued at $802,654,666. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue raised its position in Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the period. Heritage Wealth Management Inc. CA purchased a new stake in Palantir Technologies during the 3rd quarter valued at approximately $1,076,000. Cyndeo Wealth Partners LLC purchased a new stake in Palantir Technologies during the 3rd quarter valued at approximately $6,339,000. Seven Grand Managers LLC acquired a new position in Palantir Technologies during the 3rd quarter worth approximately $930,000. Finally, Silvant Capital Management LLC grew its holdings in shares of Palantir Technologies by 28.2% in the 3rd quarter. Silvant Capital Management LLC now owns 231,543 shares of the company’s stock worth $8,613,000 after acquiring an additional 50,883 shares during the period. Hedge funds and other 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.