Palantir Technologies (NASDAQ:PLTR) Stock Price Up 4.3% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded up 4.3% during mid-day trading on Friday . The company traded as high as $78.50 and last traded at $78.46. 23,823,229 shares were traded during trading, a decline of 48% from the average session volume of 46,143,832 shares. The stock had previously closed at $75.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Baird R W raised Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Bank of America upped their price objective on Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.00.

Palantir Technologies Price Performance

The company has a 50-day moving average of $66.28 and a 200 day moving average of $44.25. The company has a market cap of $181.99 billion, a PE ratio of 399.47, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. Equities research analysts expect that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 416,053 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the transaction, the insider now directly owns 592 shares in the company, valued at $43,908.64. This represents a 99.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,160,723 shares of company stock worth $1,408,158,941. 12.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the period. State of Alaska Department of Revenue grew its position in shares of Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after buying an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Palantir Technologies by 19.2% during the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after buying an additional 87,062 shares during the period. Tyler Stone Wealth Management raised its holdings in shares of Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Palantir Technologies during the 3rd quarter worth $639,000. 45.65% of the stock is currently owned by institutional investors.

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.