Palantir Technologies (NYSE:PLTR) Trading 1.2% Higher

Palantir Technologies Inc. (NYSE:PLTR) shares traded up 1.2% during trading on Tuesday . The stock traded as high as $24.58 and last traded at $24.46. 8,773,892 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 57,194,891 shares. The stock had previously closed at $24.16.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a research report on Monday, May 6th. Mizuho lifted their price target on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Tuesday, May 7th. Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a research note on Friday, June 21st. Finally, Bank of America raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $21.25.

Palantir Technologies Stock Down 1.9 %

The company’s 50 day moving average price is $22.45 and its two-hundred day moving average price is $21.41. The stock has a market cap of $53.66 billion, a P/E ratio of 200.81, a P/E/G ratio of 5.67 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The firm had revenue of $634.34 million during the quarter, compared to the consensus estimate of $614.88 million. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity

In related news, Director Peter Thiel sold 6,285,833 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Peter Thiel sold 6,285,833 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather A. Planishek sold 2,398 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the completion of the transaction, the insider now directly owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,377,153 shares of company stock valued at $240,054,945. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of large investors have recently bought and sold shares of PLTR. EverSource Wealth Advisors LLC grew its holdings in Palantir Technologies by 3,246.0% in the first quarter. EverSource Wealth Advisors LLC now owns 194,839 shares of the company’s stock worth $4,281,000 after purchasing an additional 189,016 shares during the last quarter. Garde Capital Inc. grew its holdings in Palantir Technologies by 62.3% in the first quarter. Garde Capital Inc. now owns 40,992 shares of the company’s stock worth $943,000 after purchasing an additional 15,734 shares during the last quarter. Cetera Advisors LLC grew its holdings in Palantir Technologies by 51.3% in the first quarter. Cetera Advisors LLC now owns 163,382 shares of the company’s stock worth $3,759,000 after purchasing an additional 55,375 shares during the last quarter. PGGM Investments purchased a new position in Palantir Technologies in the first quarter worth $3,024,000. Finally, Wellington Shields & Co. LLC purchased a new position in Palantir Technologies in the first quarter worth $214,000. 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.