Palantir Technologies (NYSE:PLTR) Stock Price Up 1.8% Following Analyst Upgrade

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was up 1.8% on Monday after Wedbush raised their price target on the stock from $57.00 to $75.00. Wedbush currently has an outperform rating on the stock. Palantir Technologies traded as high as $67.88 and last traded at $65.50. Approximately 41,983,436 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 58,736,270 shares. The stock had previously closed at $64.35.

Other equities research analysts also recently issued reports about the company. Bank of America increased their price target on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday. Mizuho upped their price objective on Palantir Technologies from $30.00 to $37.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a report on Thursday, November 7th. Finally, Citigroup lifted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.64.

Insider Buying and Selling

In other news, insider Heather A. Planishek sold 14,016 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $30.67, for a total transaction of $429,870.72. Following the transaction, the insider now directly owns 576,023 shares in the company, valued at $17,666,625.41. The trade was a 2.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,167,451 shares of company stock worth $1,603,067,889. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently added to or reduced their stakes in PLTR. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after purchasing an additional 4,667,955 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after buying an additional 68,945 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after buying an additional 87,062 shares during the last quarter. Tyler Stone Wealth Management raised its position in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after buying an additional 99,921 shares during the period. Finally, Heritage Wealth Management Inc. CA acquired a new position in Palantir Technologies in the third quarter valued at approximately $1,076,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Up 1.7 %

The firm has a 50-day moving average of $47.09 and a two-hundred day moving average of $34.10. The company has a market capitalization of $149.76 billion, a PE ratio of 328.72 and a beta of 2.70.

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

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.