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

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) were up 1.4% on Wednesday . The company traded as high as $168.34 and last traded at $165.77. Approximately 34,298,961 shares were traded during trading, a decline of 58% from the average daily volume of 81,887,281 shares. The stock had previously closed at $163.55.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PLTR. UBS Group increased their target price on shares of Palantir Technologies from $165.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, November 4th. Loop Capital increased their price objective on shares of Palantir Technologies from $178.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. HSBC raised their price objective on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a research report on Wednesday, November 5th. Wall Street Zen raised shares of Palantir Technologies from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Palantir Technologies from $160.00 to $200.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average price target of $172.28.

Palantir Technologies Stock Up 1.4%

The stock’s 50 day moving average price is $180.03 and its two-hundred day moving average price is $159.16. The stock has a market cap of $395.10 billion, a price-to-earnings ratio of 394.70, a price-to-earnings-growth ratio of 6.29 and a beta of 2.63.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.Palantir Technologies’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Palantir Technologies has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other news, insider David A. Glazer sold 81,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $154.47, for a total value of $12,512,070.00. Following the completion of the sale, the insider directly owned 431,169 shares in the company, valued at $66,602,675.43. The trade was a 15.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shyam Sankar sold 149,872 shares of Palantir Technologies stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $24,577,509.28. Following the completion of the sale, the insider directly owned 642,786 shares in the company, valued at $105,410,476.14. This represents a 18.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,149,695 shares of company stock valued at $186,821,453 in the last ninety days. 12.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Palantir Technologies during the 2nd quarter worth approximately $3,307,457,000. Kingstone Capital Partners Texas LLC purchased a new position in Palantir Technologies during the second quarter worth approximately $2,543,888,000. Vanguard Group Inc. boosted its stake in Palantir Technologies by 4.0% during the third quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock worth $39,017,133,000 after buying an additional 8,168,604 shares during the last quarter. State Street Corp grew its holdings in Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after buying an additional 6,777,771 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Palantir Technologies in the 1st quarter worth $520,232,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.