Palantir Technologies (NYSE:PLTR) Stock Price Up 5.2% – Here’s Why

Palantir Technologies Inc. (NYSE:PLTR) shot up 5.2% on Wednesday . The company traded as high as $63.39 and last traded at $62.96. 34,847,246 shares were traded during mid-day trading, a decline of 40% from the average session volume of 57,705,605 shares. The stock had previously closed at $59.85.

Analyst Ratings Changes

Several research firms recently issued reports on PLTR. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Bank of America lifted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Wedbush increased their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Citigroup boosted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Monness Crespi & Hardt dropped their target price on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.71.

Palantir Technologies Stock Up 0.8 %

The firm has a fifty day moving average price of $41.30 and a two-hundred day moving average price of $31.25. The stock has a market capitalization of $135.11 billion, a P/E ratio of 312.67 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) 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 business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 11,373 shares of Palantir Technologies stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $32.25, for a total value of $366,779.25. Following the completion of the sale, the insider now owns 600,633 shares of the company’s stock, valued at approximately $19,370,414.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palantir Technologies news, insider Ryan D. Taylor sold 160,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $32.00, for a total value of $5,120,000.00. Following the completion of the sale, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,922,080. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 11,373 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $32.25, for a total value of $366,779.25. Following the transaction, the insider now directly owns 600,633 shares in the company, valued at $19,370,414.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,399,238 shares of company stock valued at $1,041,851,557. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently modified their holdings of the company. International Assets Investment Management LLC increased its position in shares of 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 valued at $254,162,000 after purchasing an additional 6,641,253 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in 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 valued at $460,798,000 after buying an additional 4,667,955 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in Palantir Technologies by 248,208.2% during the first quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after buying an additional 3,623,840 shares during the last quarter. Marshall Wace LLP raised its position in Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after acquiring an additional 3,038,861 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after acquiring an additional 3,029,317 shares during 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.