Palantir Technologies (NYSE:PLTR) Shares Up 0.9% After Analyst Upgrade

Palantir Technologies Inc. (NYSE:PLTR)’s stock price shot up 0.9% during trading on Friday after Mizuho raised their price target on the stock from $24.00 to $30.00. Mizuho currently has an underperform rating on the stock. Palantir Technologies traded as high as $42.45 and last traded at $42.38. 8,155,021 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 56,957,137 shares. The stock had previously closed at $42.00.

PLTR has been the topic of a number of other research reports. Wedbush increased their price target on Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. The Goldman Sachs Group raised 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 boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $27.86.

Insider Activity

In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the completion of the sale, the director now owns 138,304 shares in the company, valued at approximately $6,071,545.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $43.90, for a total transaction of $321,391.90. Following the transaction, the director now directly owns 138,304 shares in the company, valued at approximately $6,071,545.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Monday, September 16th. The shares were 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 of the company’s stock, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,747,176 shares of company stock worth $646,951,347 over the last 90 days. 12.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies in the second quarter valued at about $25,000. West Paces Advisors Inc. boosted its stake in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $30,000. Finally, Massmutual Trust Co. FSB ADV increased 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 worth $31,000 after purchasing an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 2.3 %

The business’s fifty day moving average is $35.60 and its 200 day moving average is $28.06. The company has a market cap of $96.18 billion, a P/E ratio of 252.66 and a beta of 2.72.

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

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.