Palantir Technologies (NYSE:PLTR) Trading Up 1.2%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price shot up 1.2% on Monday . The stock traded as high as $25.93 and last traded at $25.64. 11,663,658 shares were traded during mid-day trading, a decline of 79% from the average session volume of 56,433,836 shares. The stock had previously closed at $25.33.

Analyst Ratings Changes

Several brokerages recently weighed in on PLTR. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. Wedbush restated an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research report on Monday, May 6th. HSBC increased their target price on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. Mizuho increased their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Finally, DA Davidson increased their target price on Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.25.

Palantir Technologies Stock Performance

The firm has a market capitalization of $57.53 billion, a price-to-earnings ratio of 215.31, a P/E/G ratio of 5.85 and a beta of 2.71. The business has a 50 day simple moving average of $22.81 and a 200-day simple moving average of $21.65.

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

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 2,398 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the transaction, the insider now directly owns 639,696 shares in the company, valued at approximately $13,625,524.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Heather A. Planishek sold 2,398 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the transaction, the insider now directly owns 639,696 shares in the company, valued at approximately $13,625,524.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter Thiel sold 6,285,833 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the transaction, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,372,153 shares of company stock valued at $239,941,245. 12.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV increased its position in Palantir Technologies by 49.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,012 shares of the company’s stock worth $51,000 after buying an additional 665 shares during the period. Capital Market Strategies LLC increased its holdings in shares of Palantir Technologies by 2.7% in the second quarter. Capital Market Strategies LLC now owns 48,425 shares of the company’s stock valued at $1,227,000 after purchasing an additional 1,251 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Palantir Technologies by 3,246.0% in the first quarter. EverSource Wealth Advisors LLC now owns 194,839 shares of the company’s stock valued at $4,281,000 after purchasing an additional 189,016 shares during the period. Garde Capital Inc. increased its holdings in shares of Palantir Technologies by 62.3% in the first quarter. Garde Capital Inc. now owns 40,992 shares of the company’s stock valued at $943,000 after purchasing an additional 15,734 shares during the period. Finally, Cetera Advisors LLC increased its holdings in shares of Palantir Technologies by 51.3% in the first quarter. Cetera Advisors LLC now owns 163,382 shares of the company’s stock valued at $3,759,000 after purchasing an additional 55,375 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.