Palantir Technologies (NASDAQ:PLTR) Shares Up 1.4% – Here’s What Happened

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) shot up 1.4% during mid-day trading on Wednesday . The stock traded as high as $137.24 and last traded at $137.15. 30,921,729 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 48,813,699 shares. The stock had previously closed at $135.26.

More Palantir Technologies News

Here are the key news stories impacting Palantir Technologies this week:

• Positive Sentiment: Palantir’s customer growth and rising U.S. commercial adoption are reinforcing its enterprise AI expansion story, which supports the stock’s long-term growth narrative. PLTR’s Customer Growth Momentum Strengthens Enterprise AI Expansion
• Positive Sentiment: Some analysts say global tensions could benefit Palantir because its defense, intelligence, and national-security software is becoming more important as governments spend more on mission-critical data infrastructure. Palantir stock gets surprising boost from global tensions
• Positive Sentiment: Coverage highlighting Palantir’s “record quarter” and strong operating results is helping remind investors that the company is still delivering rapid revenue growth and high margins. Palantir (PLTR) Reports Record Quarter, Benchmark Maintains Hold Rating
• Positive Sentiment: Bulllish commentary from well-known investors and market commentators is reinforcing the idea that Palantir remains a high-quality AI/software company with strong fundamentals. Jim Cramer on Palantir: “Incredibly Good Company Whose Stock Got Ahead”
• Neutral Sentiment: Some articles argue Palantir’s valuation is already very rich and that the stock may have gotten ahead of itself, which could limit near-term upside even if the business remains strong. ‘It’s All About the Math,’ Says Top Investor About Palantir Stock
• Neutral Sentiment: Several pieces debate whether Palantir is still a buy after its huge run, reflecting ongoing investor uncertainty rather than a clear fundamental problem. Is Palantir Stock a Buy?
• Negative Sentiment: Bearish articles caution that Palantir’s high valuation leaves little room for disappointment and that other AI names may offer a better risk-reward setup. Forget Palantir: 2 Unstoppable AI Stocks to Buy Instead

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PLTR. Zacks Research raised Palantir Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Piper Sandler reissued an “overweight” rating and issued a $230.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 3rd. William Blair raised Palantir Technologies from a “market perform” rating to an “outperform” rating in a report on Monday, February 2nd. DZ Bank began coverage on Palantir Technologies in a report on Thursday, April 23rd. They issued a “buy” rating and a $175.00 price objective for the company. Finally, HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and decreased their price objective for the company from $205.00 to $151.00 in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $195.16.

Palantir Technologies Stock Performance

The company has a 50 day moving average of $143.83 and a two-hundred day moving average of $158.76. The stock has a market cap of $328.79 billion, a PE ratio of 154.10, a price-to-earnings-growth ratio of 2.14 and a beta of 1.52.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. Palantir Technologies had a return on equity of 28.34% and a net margin of 43.67%.The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the business earned $0.13 EPS. Palantir Technologies’s revenue for the quarter was up 84.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 1.18 EPS for the current year.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 19,988 shares of Palantir Technologies stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $133.72, for a total value of $2,672,795.36. Following the completion of the transaction, the insider owned 219,421 shares in the company, valued at $29,340,976.12. The trade was a 8.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Andrew Cohen sold 327,088 shares of Palantir Technologies stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $133.72, for a total value of $43,738,207.36. Following the completion of the transaction, the insider owned 592 shares of the company’s stock, valued at approximately $79,162.24. This represents a 99.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,029,479 shares of company stock worth $137,685,797 over the last quarter. Company insiders own 9.53% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently bought and sold shares of the company. Milestone Asset Management LLC increased its stake in Palantir Technologies by 229.5% during the 4th quarter. Milestone Asset Management LLC now owns 60,551 shares of the company’s stock worth $10,763,000 after buying an additional 42,173 shares in the last quarter. GPS Wealth Strategies Group LLC increased its stake in Palantir Technologies by 26.4% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 58,548 shares of the company’s stock worth $10,680,000 after buying an additional 12,229 shares in the last quarter. VCI Wealth Management LLC increased its stake in Palantir Technologies by 42.3% during the 4th quarter. VCI Wealth Management LLC now owns 12,187 shares of the company’s stock worth $2,166,000 after buying an additional 3,621 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in Palantir Technologies by 135.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 540,835 shares of the company’s stock worth $98,659,000 after purchasing an additional 310,942 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Palantir Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 215,444,098 shares of the company’s stock worth $38,295,188,000 after purchasing an additional 1,557,828 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.