Palantir Technologies (NASDAQ:PLTR) Shares Up 3.1% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR) shot up 3.1% during mid-day trading on Tuesday . The company traded as high as $84.80 and last traded at $83.21. 37,625,821 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 61,586,305 shares. The stock had previously closed at $80.69.

Analyst Ratings Changes

A number of research analysts recently issued reports on PLTR shares. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. UBS Group initiated coverage on shares of Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target for the company. Mizuho lifted their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Finally, DA Davidson increased their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Six research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Palantir Technologies Stock Performance

The firm has a market capitalization of $187.66 billion, a price-to-earnings ratio of 411.92, a PEG ratio of 10.18 and a beta of 2.87. The firm has a fifty day moving average price of $61.42 and a 200 day moving average price of $41.62.

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

Insider Buying and Selling at Palantir Technologies

In other news, Director Peter Thiel sold 4,181,118 shares of Palantir Technologies stock in a transaction on Monday, September 30th. The stock was sold at an average price of $36.91, for a total transaction of $154,325,065.38. Following the completion of the transaction, the director now owns 38,502,451 shares of the company’s stock, valued at $1,421,125,466.41. The trade was a 9.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 416,053 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the completion of the sale, the insider now directly owns 592 shares in the company, valued at approximately $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 31,351,045 shares of company stock valued at $1,710,644,202. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of large investors have recently made changes to their positions in PLTR. State Street Corp boosted its stake in shares of Palantir Technologies by 96.4% during the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC grew its stake in Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. International Assets Investment Management LLC raised its holdings in Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after acquiring an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% during the third 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 last quarter. Finally, Marshall Wace LLP grew its position in shares of Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

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.