Palantir Technologies (NYSE:PLTR) Trading Up 0.9% Following Analyst Upgrade

Palantir Technologies Inc. (NYSE:PLTR)’s share price rose 0.9% during trading on Tuesday 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 $65.82 and last traded at $64.94. Approximately 17,375,614 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 58,723,785 shares. The stock had previously closed at $64.35.

PLTR has been the topic of a number of other reports. Mizuho boosted their price objective on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a research report on Tuesday, November 5th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. The Goldman Sachs Group raised their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Monness Crespi & Hardt lowered their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average price target of $35.64.

Insiders Place Their Bets

In related news, insider Heather A. Planishek sold 14,016 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the sale, the insider now owns 576,023 shares of the company’s stock, valued at $17,666,625.41. This trade represents a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alexander C. Karp sold 1,007,496 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $63.96, for a total transaction of $64,439,444.16. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $411,407,221.68. This trade represents a 13.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,167,451 shares of company stock valued at $1,603,067,889. 12.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the company. Tri Ri Asset Management Corp bought a new stake in shares of Palantir Technologies during the third quarter worth approximately $23,403,000. Synovus Financial Corp raised its position in shares of Palantir Technologies by 85.9% during the 3rd quarter. Synovus Financial Corp now owns 17,898 shares of the company’s stock valued at $666,000 after acquiring an additional 8,270 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Palantir Technologies by 48.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 17,538 shares of the company’s stock valued at $652,000 after purchasing an additional 5,747 shares during the period. World Investment Advisors LLC bought a new position in shares of Palantir Technologies in the 3rd quarter worth $347,000. Finally, M&T Bank Corp grew its stake in shares of Palantir Technologies by 37.0% during the third quarter. M&T Bank Corp now owns 170,043 shares of the company’s stock worth $6,326,000 after purchasing an additional 45,965 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.7 %

The firm has a market cap of $149.76 billion, a P/E ratio of 328.72 and a beta of 2.70. The business has a fifty day moving average of $47.09 and a 200 day moving average of $34.10.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate 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 for the quarter was up 30.0% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal 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.