Palantir Technologies (NASDAQ:PLTR) Trading Up 5.4% After Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR) rose 5.4% during mid-day trading on Thursday after Citigroup raised their price target on the stock from $42.00 to $110.00. Citigroup currently has a neutral rating on the stock. Palantir Technologies traded as high as $108.68 and last traded at $106.85. Approximately 48,226,937 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 77,623,336 shares. The stock had previously closed at $101.36.

A number of other equities research analysts have also issued reports on PLTR. The Goldman Sachs Group boosted their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Bank of America boosted their price objective on Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday. Wedbush raised their target price on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Northland Securities boosted their price target on shares of Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Mizuho raised their price objective on shares of Palantir Technologies from $44.00 to $80.00 and gave the stock an “underperform” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.44.

Insider Transactions at Palantir Technologies

In other news, insider Stephen Andrew Cohen sold 450,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the transaction, the insider now owns 592 shares in the company, valued at approximately $42,002.40. This trade represents a 99.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shyam Sankar sold 5,250,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This trade represents a 87.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,653,753 shares of company stock valued at $1,039,407,675 in the last three months. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Tritonpoint Wealth LLC boosted its holdings in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock worth $537,000 after buying an additional 132 shares during the period. Twin Peaks Wealth Advisors LLC lifted its position in Palantir Technologies by 2.2% during the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 6,523 shares of the company’s stock worth $493,000 after acquiring an additional 139 shares during the last quarter. Kennebec Savings Bank boosted its holdings in Palantir Technologies by 29.5% during the fourth quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after acquiring an additional 159 shares during the period. HighMark Wealth Management LLC lifted its position in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after purchasing an additional 166 shares during the last quarter. Finally, RMR Wealth Builders boosted its stake in Palantir Technologies by 2.4% during the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after purchasing an additional 167 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 5.6 %

The stock has a fifty day simple moving average of $75.56 and a 200-day simple moving average of $52.26. The stock has a market cap of $243.75 billion, a price-to-earnings ratio of 534.29, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.