Palantir Technologies (NYSE:PLTR) Shares Up 3.3%

Palantir Technologies Inc. (NYSE:PLTR) was up 3.3% during mid-day trading on Friday . The stock traded as high as $22.67 and last traded at $22.43. Approximately 15,405,387 shares changed hands during trading, a decline of 75% from the average daily volume of 62,470,840 shares. The stock had previously closed at $21.71.

Wall Street Analyst Weigh In

Several analysts have commented on PLTR shares. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Mizuho increased their price objective on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Monness Crespi & Hardt raised Palantir Technologies from a “sell” rating to a “neutral” rating in a research report on Friday. Raymond James lifted their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Finally, Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their target price for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Stock Performance

The company has a market cap of $49.83 billion, a price-to-earnings ratio of 250.22, a P/E/G ratio of 5.29 and a beta of 2.78. The company’s fifty day moving average is $23.49 and its two-hundred day moving average is $20.01.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The firm had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the sale, the director now owns 181,830 shares in the company, valued at approximately $4,563,933. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the sale, the director now owns 181,830 shares in the company, valued at approximately $4,563,933. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at $3,992,120. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,456,273 shares of company stock worth $184,343,202. Company insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Halpern Financial Inc. lifted its holdings in Palantir Technologies by 44.0% in the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after buying an additional 440 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in Palantir Technologies by 16.9% in the first quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock valued at $74,000 after acquiring an additional 463 shares in the last quarter. Principle Wealth Partners LLC grew its holdings in Palantir Technologies by 4.8% during the 1st quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock worth $241,000 after acquiring an additional 481 shares in the last quarter. Fiduciary Alliance LLC increased its position in shares of Palantir Technologies by 1.0% in the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock worth $1,044,000 after purchasing an additional 618 shares during the last quarter. Finally, West Paces Advisors Inc. raised its stake in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares in the last quarter. Hedge funds and other 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.