Palantir Technologies (NYSE:PLTR) Shares Up 0.1%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price shot up 0.1% during mid-day trading on Thursday . The stock traded as high as $21.37 and last traded at $21.33. 14,464,690 shares were traded during mid-day trading, a decline of 78% from the average session volume of 64,760,664 shares. The stock had previously closed at $21.31.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PLTR. Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a research note on Thursday, March 28th. Mizuho raised their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Jefferies Financial Group raised 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. Finally, Raymond James raised their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Trading Down 1.1 %

The firm has a market cap of $46.62 billion, a price-to-earnings ratio of 236.47, a price-to-earnings-growth ratio of 5.37 and a beta of 2.78. The stock has a 50-day moving average of $23.91 and a two-hundred day moving average of $19.81.

Palantir Technologies (NYSE:PLTR) last released its quarterly 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 net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. Sell-side analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction dated Friday, February 9th. The stock was 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 directly owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Ryan D. Taylor sold 120,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 181,460 shares of the company’s stock, valued at approximately $3,992,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owns 181,830 shares of the company’s stock, valued at $4,563,933. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,456,273 shares of company stock valued at $184,343,202. Corporate insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTR. AlphaCrest Capital Management LLC purchased a new stake in shares of Palantir Technologies during the 1st quarter worth about $206,000. D.A. Davidson & CO. raised its stake in shares of Palantir Technologies by 18.6% in the 1st quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock valued at $200,000 after acquiring an additional 2,286 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Palantir Technologies in the 1st quarter valued at approximately $1,475,000. Cibc World Market Inc. raised its stake in shares of Palantir Technologies by 38.3% in the 1st quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after acquiring an additional 62,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Palantir Technologies by 71.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock valued at $15,832,000 after acquiring an additional 482,171 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.