Palantir Technologies (NYSE:PLTR) Shares Up 3.3%

Palantir Technologies Inc. (NYSE:PLTR) shares were up 3.3% on Friday . The company traded as high as $22.67 and last traded at $22.43. Approximately 15,405,387 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 62,470,840 shares. The stock had previously closed at $21.71.

Analyst Ratings Changes

Several research analysts recently weighed in on PLTR shares. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Raymond James increased their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Mizuho lifted their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Finally, Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

The firm has a market capitalization of $49.83 billion, a price-to-earnings ratio of 250.25, a PEG ratio of 5.32 and a beta of 2.78. The business’s 50-day moving average price is $23.45 and its 200 day moving average price is $20.06.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the sale, the insider now owns 181,460 shares in the company, valued at approximately $3,992,120. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Ryan D. Taylor sold 120,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the sale, the insider now directly owns 181,460 shares of the company’s stock, valued at $3,992,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Heather A. Planishek sold 32,828 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the transaction, the insider now directly owns 662,006 shares of the company’s stock, valued at $17,179,055.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,456,273 shares of company stock valued at $184,343,202. Insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC increased its holdings in shares of Palantir Technologies by 74.9% in the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares during the last quarter. First United Bank & Trust bought a new stake in Palantir Technologies during the fourth quarter valued at $26,000. Pacifica Partners Inc. acquired a new stake in shares of Palantir Technologies during the fourth quarter worth $27,000. West Paces Advisors Inc. lifted its position in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after buying an additional 620 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the period. Institutional investors and hedge funds 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.