Palantir Technologies (NASDAQ:PLTR) Trading 0.9% Higher After Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR) traded up 0.9% during mid-day trading on Thursday after Wedbush raised their price target on the stock from $75.00 to $90.00. Wedbush currently has an outperform rating on the stock. Palantir Technologies traded as high as $78.53 and last traded at $77.53. 24,256,373 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 67,594,070 shares. The stock had previously closed at $76.87.

A number of other analysts also recently issued reports on PLTR. UBS Group assumed coverage on shares of Palantir Technologies in a report on Thursday, December 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Mizuho boosted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Northland Securities boosted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Morgan Stanley restated an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a report on Monday, January 6th. Finally, Cantor Fitzgerald initiated coverage on shares of Palantir Technologies in a report on Friday, January 17th. They issued a “neutral” rating and a $72.00 target price on the stock. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.61.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $76.29, for a total transaction of $61,032.00. Following the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander C. Karp sold 3,337,048 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. This represents a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,518,855 shares of company stock valued at $1,438,682,423. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after buying an additional 40,498,024 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Palantir Technologies by 52.9% in the third quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after buying an additional 16,598,253 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Palantir Technologies by 5.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares during the last quarter. FMR LLC raised its holdings in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock worth $464,192,000 after buying an additional 1,004,603 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Price Performance

The company’s fifty day moving average is $71.30 and its 200-day moving average is $48.32. The stock has a market cap of $179.92 billion, a PE ratio of 394.92, a PEG ratio of 6.73 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. 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 company posted $0.03 earnings per share. The firm’s revenue was up 30.0% compared to the same quarter last year. Analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Palantir Technologies Company Profile

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.