Palantir Technologies (NYSE:PLTR) Trading Up 0.8%

Palantir Technologies Inc. (NYSE:PLTR) shot up 0.8% on Wednesday . The stock traded as high as $22.25 and last traded at $21.82. 12,912,954 shares traded hands during trading, a decline of 80% from the average session volume of 63,258,164 shares. The stock had previously closed at $21.64.

Analyst Upgrades and Downgrades

PLTR has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a research note on Tuesday, February 6th. Bank of America increased their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Mizuho increased their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.35.

Palantir Technologies Price Performance

The stock has a 50-day moving average price of $23.49 and a 200-day moving average price of $20.01. The company has a market capitalization of $48.04 billion, a P/E ratio of 241.25, a P/E/G ratio of 5.29 and a beta of 2.78.

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

Insider Buying and Selling

In related news, insider Ryan D. Taylor sold 120,000 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at $3,992,120. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction on Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at approximately $18,819,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction 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 in the company, valued at $3,992,120. The disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock valued at $184,343,202 over the last quarter. Insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently made changes to their positions in the stock. Truvestments Capital LLC increased its position in Palantir Technologies by 74.9% in the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after buying an additional 700 shares in the last quarter. First United Bank & Trust purchased a new position in Palantir Technologies during the 4th quarter worth $26,000. Pacifica Partners Inc. bought a new stake in Palantir Technologies in the 4th quarter worth about $27,000. West Paces Advisors Inc. increased its stake in 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 buying an additional 620 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after buying an additional 691 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.