Palantir Technologies (NYSE:PLTR) Shares Gap Up to $23.33

Shares of Palantir Technologies Inc. (NYSE:PLTR) gapped up before the market opened on Monday . The stock had previously closed at $23.33, but opened at $24.37. Palantir Technologies shares last traded at $24.82, with a volume of 34,233,027 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a research report on Friday, April 26th. Wedbush reiterated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a report on Monday. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a report on Wednesday, February 14th. Finally, Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and raised their target price for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Stock Up 8.1 %

The company’s fifty day simple moving average is $23.36 and its two-hundred day simple moving average is $20.25. The company has a market capitalization of $55.78 billion, a price-to-earnings ratio of 274.59, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Equities research analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity

In other news, insider Ryan D. Taylor sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $24.00, for a total value of $3,600,000.00. Following the completion of the transaction, the insider now owns 181,460 shares in the company, valued at $4,355,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ryan D. Taylor sold 150,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. Following the sale, the insider now directly owns 181,460 shares in the company, valued at $4,355,040. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, February 9th. The shares were 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 in the company, valued at approximately $4,563,933. The disclosure for this sale can be found here. Insiders have sold 7,476,273 shares of company stock worth $184,783,602 in the last 90 days. Corporate insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the business. Raymond James & Associates lifted its stake in Palantir Technologies by 18.8% in the third quarter. Raymond James & Associates now owns 1,563,991 shares of the company’s stock valued at $25,024,000 after acquiring an additional 247,595 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Palantir Technologies by 16.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,080,570 shares of the company’s stock worth $17,289,000 after purchasing an additional 154,085 shares during the period. J.W. Cole Advisors Inc. increased its position in Palantir Technologies by 118.0% during the third quarter. J.W. Cole Advisors Inc. now owns 24,538 shares of the company’s stock worth $393,000 after buying an additional 13,281 shares during the last quarter. Bank of New York Mellon Corp increased its position in Palantir Technologies by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 7,537,415 shares of the company’s stock worth $120,599,000 after buying an additional 72,889 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Palantir Technologies by 9.9% in the third quarter. Brown Advisory Inc. now owns 14,425 shares of the company’s stock valued at $231,000 after buying an additional 1,300 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.