Palantir Technologies (NYSE:PLTR) Shares Up 1.4%

Palantir Technologies Inc. (NYSE:PLTR) shares were up 1.4% on Thursday . The company traded as high as $37.10 and last traded at $36.90. Approximately 19,840,736 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 54,984,480 shares. The stock had previously closed at $36.38.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLTR. Northland Securities started coverage on Palantir Technologies in a research note on Thursday, August 22nd. They set a “market perform” rating and a $35.00 target price for the company. Raymond James increased their price objective on Palantir Technologies from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Finally, Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Price Performance

The company has a market cap of $83.31 billion, a PE ratio of 310.03 and a beta of 2.72. The firm has a 50-day simple moving average of $30.57 and a two-hundred day simple moving average of $25.90.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data 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 return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same quarter in the prior year, the business posted $0.01 EPS. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. Equities research analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the completion of the sale, the director now directly owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $28.97, for a total value of $57,940.00. Following the sale, the director now directly owns 69,039 shares of the company’s stock, valued at approximately $2,000,059.83. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander C. Karp sold 4,500,000 shares of the company’s 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 transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,383,238 shares of company stock valued at $190,231,672. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Palantir Technologies during the 2nd quarter worth about $30,000. Sanctuary Advisors LLC acquired a new stake in shares of Palantir Technologies in the second quarter worth $3,587,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Palantir Technologies in the 2nd quarter valued at $125,000. Cetera Investment Advisers lifted its holdings in shares of Palantir Technologies by 25.2% during the 2nd quarter. Cetera Investment Advisers now owns 707,674 shares of the company’s stock valued at $17,925,000 after acquiring an additional 142,411 shares in the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new stake in Palantir Technologies during the 2nd quarter worth $319,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.