Palantir Technologies (NYSE:PLTR) Shares Up 3.7%

Shares of Palantir Technologies Inc. (NYSE:PLTR) shot up 3.7% on Thursday . The stock traded as high as $25.04 and last traded at $25.00. 11,251,959 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 56,723,973 shares. The stock had previously closed at $24.10.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLTR. Royal Bank of Canada upped their target price on Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday, May 7th. Mizuho raised their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price on the stock. in a research report on Friday, June 21st. Wedbush restated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a report on Monday, May 6th. Finally, Argus initiated coverage on shares of Palantir Technologies in a report on Monday, June 17th. They set a “buy” rating and a $29.00 price objective on the stock. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $21.25.

Palantir Technologies Price Performance

The firm has a fifty day simple moving average of $22.63 and a two-hundred day simple moving average of $21.48. The firm has a market capitalization of $56.41 billion, a P/E ratio of 211.10, a price-to-earnings-growth ratio of 5.82 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The company had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total transaction of $78,000.00. Following the sale, the director now owns 32,843 shares in the company, valued at $853,918. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Palantir Technologies news, insider Heather A. Planishek sold 2,398 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the transaction, the insider now directly owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric H. Woersching sold 3,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the transaction, the director now directly owns 32,843 shares in the company, valued at approximately $853,918. The disclosure for this sale can be found here. Insiders sold 11,377,153 shares of company stock worth $240,054,945 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. First United Bank & Trust bought a new stake in Palantir Technologies in the 4th quarter worth approximately $26,000. Pacifica Partners Inc. bought a new stake in shares of Palantir Technologies in the 4th quarter worth approximately $27,000. West Paces Advisors Inc. boosted its stake in shares of 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 purchasing an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings 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 valued at $31,000 after purchasing an additional 691 shares during the last quarter. Finally, Bogart Wealth LLC raised its position in Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after purchasing an additional 1,065 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.