Palantir Technologies (NYSE:PLTR) Trading Up 0.3% – What’s Next?

Palantir Technologies Inc. (NYSE:PLTR) shares shot up 0.3% on Tuesday . The company traded as high as $43.49 and last traded at $42.84. 10,412,744 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 56,726,785 shares. The stock had previously closed at $42.70.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wedbush raised their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Citigroup upped their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Monness Crespi & Hardt reduced their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group boosted their target price on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.86.

Palantir Technologies Trading Down 0.8 %

The stock has a market capitalization of $95.40 billion, a price-to-earnings ratio of 250.60 and a beta of 2.72. The company has a fifty day moving average of $36.12 and a two-hundred day moving average of $28.42.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share. As a group, sell-side analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider Ryan D. Taylor sold 249,684 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the sale, the insider now owns 372,565 shares in the company, valued at $11,180,675.65. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Ryan D. Taylor sold 249,684 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the transaction, the insider now directly owns 372,565 shares in the company, valued at $11,180,675.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the sale, the director now owns 138,304 shares in the company, valued at $6,071,545.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,747,176 shares of company stock worth $646,951,347. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Hedge funds have recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies in the second quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies during the 2nd quarter worth about $25,000. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies during the 3rd quarter worth about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies in the second quarter valued at about $30,000. Finally, Beacon Capital Management LLC raised its position in Palantir Technologies by 269.5% in the first quarter. Beacon Capital Management LLC now owns 1,515 shares of the company’s stock worth $35,000 after purchasing an additional 1,105 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

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.