Palantir Technologies (NYSE:PLTR) Stock Price Up 1.5%

Shares of Palantir Technologies Inc. (NYSE:PLTR) rose 1.5% during trading on Monday . The stock traded as high as $31.50 and last traded at $31.48. Approximately 42,388,000 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 54,656,816 shares. The stock had previously closed at $31.00.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several research reports. Raymond James upped their price target on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. DA Davidson upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Monness Crespi & Hardt reduced their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. HSBC upped their price target on shares of Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Finally, Jefferies Financial Group upped their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Palantir Technologies Stock Performance

The stock’s fifty day moving average price is $28.48 and its 200-day moving average price is $24.96. The firm has a market cap of $68.31 billion, a PE ratio of 254.23, a P/E/G ratio of 5.55 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Eric H. Woersching sold 26,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $23.32, for a total value of $606,320.00. Following the completion of the transaction, the director now owns 38,843 shares in the company, valued at approximately $905,818.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Eric H. Woersching sold 26,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $23.32, for a total value of $606,320.00. Following the sale, the director now directly owns 38,843 shares of the company’s stock, valued at approximately $905,818.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. The disclosure for this sale can be found here. Insiders sold 728,664 shares of company stock worth $21,997,409 in the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently added to or reduced their stakes in PLTR. International Assets Investment Management LLC grew its stake in Palantir Technologies by 9.7% in the 4th quarter. International Assets Investment Management LLC now owns 168,653 shares of the company’s stock valued at $2,896,000 after acquiring an additional 14,952 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Palantir Technologies by 5.3% during the 4th quarter. Yousif Capital Management LLC now owns 19,197 shares of the company’s stock worth $330,000 after purchasing an additional 970 shares during the last quarter. Truist Financial Corp boosted its stake in shares of Palantir Technologies by 44.0% during the 4th quarter. Truist Financial Corp now owns 115,520 shares of the company’s stock worth $1,983,000 after purchasing an additional 35,295 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Palantir Technologies by 48.9% during the fourth quarter. Russell Investments Group Ltd. now owns 374,833 shares of the company’s stock worth $6,461,000 after buying an additional 123,048 shares in the last quarter. Finally, Vantage Financial Partners LLC raised its position in shares of Palantir Technologies by 20.2% in the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after buying an additional 10,124 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.