Palantir Technologies (NYSE:PLTR) Trading Up 0.6%

Palantir Technologies Inc. (NYSE:PLTR)’s share price shot up 0.6% during trading on Wednesday . The company traded as high as $36.72 and last traded at $36.66. 17,921,560 shares were traded during mid-day trading, a decline of 67% from the average session volume of 54,913,188 shares. The stock had previously closed at $36.45.

Analysts Set New Price Targets

Several brokerages have weighed in on PLTR. Raymond James boosted their price objective on Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Wedbush restated an “outperform” rating and issued a $38.00 price objective on shares of Palantir Technologies in a research report on Monday, September 9th. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Monness Crespi & Hardt cut their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Stock Performance

The stock has a market cap of $82.01 billion, a P/E ratio of 306.88, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72. The firm has a 50-day moving average price of $30.20 and a 200-day moving average price of $25.74.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 earnings per share. On average, research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the sale, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total value of $84,728.00. Following the transaction, the director now owns 29,817 shares in the company, valued at approximately $834,876. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. The disclosure for this sale can be found here. Insiders sold a total of 5,383,238 shares of company stock valued at $190,231,672 in the last three months. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after buying an additional 1,980,495 shares during the period. ARK Investment Management LLC boosted its stake in shares of Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after buying an additional 277,623 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after acquiring an additional 167,030 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its position in Palantir Technologies by 19.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after acquiring an additional 1,580,548 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.