Palantir Technologies (NYSE:PLTR) Sees Large Volume Increase

Palantir Technologies Inc. (NYSE:PLTR) shares saw an uptick in trading volume on Tuesday . 17,064,804 shares changed hands during trading, a decline of 69% from the previous session’s volume of 54,874,367 shares.The stock last traded at $36.06 and had previously closed at $36.31.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Argus assumed coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 price objective for the company. Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and increased their price target for the company from $21.00 to $22.00 in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Finally, Raymond James raised their price target on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Stock Down 0.1 %

The company has a 50 day simple moving average of $30.20 and a 200-day simple moving average of $25.74. The stock has a market capitalization of $81.06 billion, a price-to-earnings ratio of 303.33, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72.

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

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at $232,011,546.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider David A. Glazer sold 90,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $29.36, for a total transaction of $2,642,400.00. Following the completion of the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at $8,749,632.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,383,238 shares of company stock valued at $190,231,672. 12.93% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evolution Wealth Advisors LLC boosted its position in shares of Palantir Technologies by 0.5% during the second quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after buying an additional 360 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Palantir Technologies by 2.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock worth $386,000 after acquiring an additional 379 shares in the last quarter. Gradient Investments LLC grew its stake in shares of Palantir Technologies by 21.4% in the 2nd quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock worth $58,000 after acquiring an additional 406 shares in the last quarter. Apella Capital LLC raised its holdings in shares of Palantir Technologies by 3.7% in the second quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock valued at $323,000 after purchasing an additional 416 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in shares of Palantir Technologies by 1.2% during the second quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock valued at $916,000 after purchasing an additional 416 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

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.