Palantir Technologies (NYSE:PLTR) Shares Up 0.3%

Palantir Technologies Inc. (NYSE:PLTR) shares shot up 0.3% during trading on Tuesday . The stock traded as high as $37.05 and last traded at $36.41. 31,827,271 shares changed hands during trading, a decline of 42% from the average session volume of 54,931,461 shares. The stock had previously closed at $36.31.

Wall Street Analysts Forecast Growth

PLTR has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Bank of America raised their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. DA Davidson raised their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Finally, Northland Securities assumed coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They set a “market perform” rating and a $35.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Stock Down 0.1 %

The company has a market cap of $81.06 billion, a P/E ratio of 303.33, a PEG ratio of 6.16 and a beta of 2.72. The firm’s 50 day moving average is $30.20 and its two-hundred day moving average is $25.74.

Palantir Technologies (NYSE:PLTR) last issued 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 analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. As a group, research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total value of $84,728.00. Following the sale, the director now owns 29,817 shares in the company, valued at approximately $834,876. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,383,238 shares of company stock worth $190,231,672. 12.93% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

Several hedge funds have recently modified their holdings of the stock. Vantage Financial Partners LLC increased its stake in Palantir Technologies by 20.2% in the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after purchasing an additional 10,124 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Palantir Technologies by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock valued at $44,091,000 after buying an additional 228,428 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Palantir Technologies by 44.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 24,492 shares of the company’s stock worth $421,000 after buying an additional 7,574 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Palantir Technologies by 3.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 284,995 shares of the company’s stock worth $4,893,000 after acquiring an additional 10,680 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its stake in Palantir Technologies by 185.6% in the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock valued at $1,317,000 after acquiring an additional 49,839 shares during the period. 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.