Palantir Technologies (NYSE:PLTR) Shares Up 5.9%

Palantir Technologies Inc. (NYSE:PLTR) shares traded up 5.9% on Monday . The stock traded as high as $25.08 and last traded at $24.71. 49,742,364 shares changed hands during trading, a decline of 18% from the average session volume of 61,018,949 shares. The stock had previously closed at $23.33.

Analysts Set New Price Targets

A number of research analysts have weighed in on PLTR shares. Raymond James boosted their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Bank of America upped their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Citigroup raised their target price on Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upped their price target on Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Tuesday. Finally, Monness Crespi & Hardt raised Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Five equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.65.

Palantir Technologies Stock Up 0.7 %

The company has a 50-day moving average price of $23.34 and a two-hundred day moving average price of $20.35. The stock has a market capitalization of $47.71 billion, a P/E ratio of 237.92, a PEG ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $603.48 million. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the sale, the director now owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction 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 transaction, the director now owns 181,830 shares of the company’s stock, valued at $4,563,933. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the sale, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,356,273 shares of company stock valued at $182,143,602. 13.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of large investors have recently modified their holdings of the company. Pursue Wealth Partners LLC purchased a new stake in Palantir Technologies during the 4th quarter valued at about $1,741,000. Qsemble Capital Management LP bought a new stake in Palantir Technologies in the 3rd quarter worth $1,178,000. Trexquant Investment LP purchased a new position in shares of Palantir Technologies in the third quarter valued at about $4,446,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Palantir Technologies by 10.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after acquiring an additional 116,220 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Palantir Technologies by 3.9% in the third quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock worth $10,959,000 after purchasing an additional 25,787 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.