Palantir Technologies (NASDAQ:PLTR) Shares Up 2.3% Following Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price was up 2.3% during mid-day trading on Friday after Loop Capital raised their price target on the stock from $130.00 to $155.00. Loop Capital currently has a buy rating on the stock. Palantir Technologies traded as high as $138.49 and last traded at $138.25. Approximately 34,368,438 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 80,373,479 shares. The stock had previously closed at $135.19.

A number of other equities research analysts have also recently issued reports on the stock. Mizuho upped their price objective on shares of Palantir Technologies from $94.00 to $116.00 and gave the company an “underperform” rating in a research note on Wednesday. Morgan Stanley upped their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Daiwa America upgraded shares of Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Citigroup increased their target price on Palantir Technologies from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, UBS Group increased their target price on Palantir Technologies from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $86.30.

Insider Activity

In related news, insider Shyam Sankar sold 405,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the sale, the insider now directly owns 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric H. Woersching sold 17,000 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $129.29, for a total value of $2,197,930.00. Following the transaction, the director now directly owns 12,562 shares of the company’s stock, valued at $1,624,140.98. This represents a 57.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,816,925 shares of company stock worth $215,448,358 in the last quarter. 9.23% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Tallon Kerry Patrick purchased a new position in Palantir Technologies during the fourth quarter valued at $289,000. Union Bancaire Privee UBP SA purchased a new position in Palantir Technologies during the fourth quarter valued at $15,177,000. Revolve Wealth Partners LLC purchased a new position in Palantir Technologies during the fourth quarter valued at $450,000. Savant Capital LLC raised its position in shares of Palantir Technologies by 87.0% in the 4th quarter. Savant Capital LLC now owns 19,722 shares of the company’s stock worth $1,492,000 after purchasing an additional 9,173 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Palantir Technologies by 46.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,499 shares of the company’s stock worth $13,421,000 after purchasing an additional 56,299 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

The firm has a 50-day moving average price of $115.48 and a 200-day moving average price of $94.61. The stock has a market cap of $324.25 billion, a PE ratio of 723.20, a price-to-earnings-growth ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.