Palantir Technologies (NASDAQ:PLTR) Stock Price Up 3.4% After Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded up 3.4% during trading on Friday 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 $82.24 and last traded at $81.69. 31,749,892 shares were traded during mid-day trading, a decline of 53% from the average session volume of 67,221,500 shares. The stock had previously closed at $78.98.

Several other research firms have also recently commented on PLTR. UBS Group started coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 target price for the company. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research report on Thursday, November 7th. Cantor Fitzgerald assumed coverage on shares of Palantir Technologies in a research report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price target for the company. Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $44.61.

Insider Transactions at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total value of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the sale, the director now owns 130,250 shares of the company’s stock, valued at $6,576,322.50. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,518,855 shares of company stock valued at $1,438,682,423. 12.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. State Street Corp grew its position in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock valued at $3,069,463,000 after purchasing an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Palantir Technologies by 52.9% during the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock valued at $1,777,568,000 after buying an additional 16,598,253 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in Palantir Technologies by 5.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after purchasing an additional 808,444 shares during the period. FMR LLC raised its stake in Palantir Technologies by 8.8% during the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after purchasing an additional 1,004,603 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Palantir Technologies by 60.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

The stock’s 50 day moving average price is $71.96 and its 200 day moving average price is $48.89. The firm has a market cap of $179.92 billion, a PE ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data 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 company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period last year, the business earned $0.03 EPS. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. Analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share 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.