Palantir Technologies (NASDAQ:PLTR) Trading 0.9% Higher After Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded up 0.9% on Thursday after Wedbush raised their price target on the stock from $75.00 to $90.00. Wedbush currently has an outperform rating on the stock. Palantir Technologies traded as high as $78.53 and last traded at $77.53. 24,256,373 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 67,594,070 shares. The stock had previously closed at $76.87.

A number of other research analysts have also recently weighed in on the stock. Northland Securities lifted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley reiterated an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a research report on Monday, January 6th. Finally, Argus lowered shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $44.61.

Insider Buying and Selling at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $76.78, for a total value of $823,158.38. Following the sale, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock worth $1,438,682,423 in the last ninety days. 12.93% of the stock is owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in PLTR. State Street Corp raised its stake in shares of Palantir Technologies by 96.4% in the 3rd quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after acquiring an additional 40,498,024 shares during the period. Geode Capital Management LLC raised its stake in shares of Palantir Technologies by 52.9% in the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after acquiring an additional 16,598,253 shares during the period. International Assets Investment Management LLC increased its stake in Palantir Technologies by 3,476.2% during the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock worth $254,162,000 after buying an additional 6,641,253 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in Palantir Technologies by 943.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock worth $122,788,000 after buying an additional 2,984,348 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

The firm’s 50 day moving average is $71.30 and its two-hundred day moving average is $48.32. The stock has a market capitalization of $179.92 billion, a PE ratio of 394.92, a P/E/G ratio of 6.73 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $705.11 million. During the same period in the prior year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Palantir Technologies Company Profile

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.