Palantir Technologies (NYSE:PLTR) Shares Up 2.6% – What’s Next?

Palantir Technologies Inc. (NYSE:PLTR) traded up 2.6% on Tuesday . The company traded as high as $75.56 and last traded at $74.35. 37,232,359 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 59,493,512 shares. The stock had previously closed at $72.46.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent analyst reports. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research report on Thursday, November 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 4th. Mizuho increased their price objective on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Finally, Bank of America upped their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.64.

Palantir Technologies Price Performance

The company has a 50 day moving average of $52.96 and a 200-day moving average of $37.16. The company has a market cap of $163.79 billion, a P/E ratio of 371.75, a price-to-earnings-growth ratio of 10.29 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. Research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan D. Taylor sold 155,539 shares of Palantir Technologies stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $35.02, for a total transaction of $5,446,975.78. Following the transaction, the insider now directly owns 331,369 shares in the company, valued at $11,604,542.38. This trade represents a 31.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,397,131 shares of company stock valued at $1,971,713,059 in the last quarter. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the business. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies during the third quarter valued at about $25,000. Prestige Wealth Management Group LLC increased its stake in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. purchased a new stake in Palantir Technologies during the 2nd quarter valued at $25,000. Finally, Creekmur Asset Management LLC grew its holdings in Palantir Technologies by 46.0% in the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock worth $40,000 after acquiring an additional 335 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.