Palantir Technologies (NASDAQ:PLTR) Stock Price Up 2.6% on Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR) traded up 2.6% during trading on Friday after Mizuho raised their price target on the stock from $37.00 to $44.00. Mizuho currently has an underperform rating on the stock. Palantir Technologies traded as high as $76.50 and last traded at $76.14. 33,510,847 shares were traded during trading, a decline of 45% from the average session volume of 60,538,582 shares. The stock had previously closed at $74.21.

Other equities analysts have also recently issued reports about the stock. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 4th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Bank of America increased their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Wedbush boosted their price objective on Palantir Technologies from $57.00 to $75.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Finally, Northland Securities upped their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $41.00.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 416,053 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $74.17, for a total transaction of $30,858,651.01. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $43,908.64. This represents a 99.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This trade represents a 3.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,612,366 shares of company stock valued at $1,867,342,292. 12.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Walter & Keenan Wealth Management LLC IN ADV increased its stake in shares of Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after acquiring an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC grew its holdings in Palantir Technologies by 0.3% in the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after purchasing an additional 250 shares during the period. Quantum Private Wealth LLC increased its stake in Palantir Technologies by 1.1% in the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after purchasing an additional 250 shares in the last quarter. Truvestments Capital LLC raised its holdings in shares of Palantir Technologies by 2.4% during the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company’s stock valued at $453,000 after purchasing an additional 291 shares during the period. Finally, LCM Capital Management Inc boosted its position in shares of Palantir Technologies by 0.9% during the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock worth $1,207,000 after purchasing an additional 300 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Stock Performance

The company has a market capitalization of $183.49 billion, a price-to-earnings ratio of 402.77, a P/E/G ratio of 10.18 and a beta of 2.87. The company has a 50 day moving average price of $59.06 and a 200 day moving average price of $40.26.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the firm posted $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. Research analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.