Palantir Technologies (NYSE:PLTR) Stock Price Up 1.8% Following Analyst Upgrade

Palantir Technologies Inc. (NYSE:PLTR) shares were up 1.8% during trading on Monday after Wedbush raised their price target on the stock from $57.00 to $75.00. Wedbush currently has an outperform rating on the stock. Palantir Technologies traded as high as $67.88 and last traded at $65.50. Approximately 41,983,436 shares were traded during trading, a decline of 29% from the average daily volume of 58,736,270 shares. The stock had previously closed at $64.35.

A number of other equities analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Citigroup increased their price objective on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.64.

Insider Buying and Selling at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total transaction of $617,800.00. Following the transaction, the director now owns 1,510,630 shares in the company, valued at $46,663,360.70. This trade represents a 1.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek sold 14,016 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the sale, the insider now owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. This represents a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,167,451 shares of company stock worth $1,603,067,889 over the last three months. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently modified their holdings of PLTR. Summit Securities Group LLC acquired a new position in Palantir Technologies in the second quarter valued at $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new position in Palantir Technologies in the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC raised its stake in Palantir Technologies by 747.1% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $30,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Trading Up 1.7 %

The company has a market capitalization of $149.76 billion, a PE ratio of 328.72 and a beta of 2.70. The firm has a 50 day simple moving average of $47.09 and a two-hundred day simple moving average of $34.10.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the firm posted $0.03 EPS. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. Research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

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.