Palantir Technologies (NYSE:PLTR) Trading Up 1.5%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price shot up 1.5% during mid-day trading on Wednesday . The company traded as high as $26.27 and last traded at $26.22. 9,559,725 shares changed hands during trading, a decline of 83% from the average session volume of 56,035,000 shares. The stock had previously closed at $25.83.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Mizuho increased their target price 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 increased their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday, May 7th. Royal Bank of Canada lifted their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the company an “underperform” rating in a research report on Tuesday, May 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Finally, Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a report on Friday, June 21st. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.25.

Palantir Technologies Stock Performance

The company’s 50 day moving average price is $22.98 and its 200-day moving average price is $21.70. The company has a market cap of $57.57 billion, a price-to-earnings ratio of 215.43, a PEG ratio of 5.97 and a beta of 2.71.

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

Insider Transactions at Palantir Technologies

In other news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Palantir Technologies news, Director Peter Thiel sold 5,000,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the transaction, the director now directly owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the sale, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The disclosure for this sale can be found here. Insiders have sold 11,372,153 shares of company stock valued at $239,941,245 over the last three months. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. West Paces Advisors Inc. boosted its holdings in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares during the period. Bogart Wealth LLC grew its holdings in shares of Palantir Technologies by 332.8% during the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after acquiring an additional 1,065 shares in the last quarter. Halpern Financial Inc. increased its stake in shares of Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after acquiring an additional 440 shares during the last quarter. Finally, Pacifica Partners Inc. purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.