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

Shares of Palantir Technologies Inc. (NYSE:PLTR) rose 0.9% on Tuesday after Wedbush raised their price target on the stock from $57.00 to $75.00. Wedbush currently has an outperform rating on the stock. Palantir Technologies traded as high as $65.82 and last traded at $64.94. Approximately 17,375,614 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 58,723,785 shares. The stock had previously closed at $64.35.

Other research analysts have also recently issued research reports about the company. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. DA Davidson boosted their target price on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Northland Securities boosted their price objective on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $35.64.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 1,620,395 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $63.21, for a total value of $102,425,167.95. Following the completion of the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $406,583,028.18. The trade was a 20.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 8,860 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $58.06, for a total value of $514,411.60. Following the completion of the transaction, the director now owns 121,390 shares in the company, valued at $7,047,903.40. This represents a 6.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,167,451 shares of company stock worth $1,603,067,889 in the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after buying an additional 4,667,955 shares during the period. State of Alaska Department of Revenue grew its position in shares of Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after purchasing an additional 87,062 shares during the period. Tyler Stone Wealth Management lifted its position in shares of Palantir Technologies by 97.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock worth $7,515,000 after purchasing an additional 99,921 shares during the last quarter. Finally, Heritage Wealth Management Inc. CA bought a new stake in Palantir Technologies during the 3rd quarter valued at approximately $1,076,000. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Trading Up 1.7 %

The stock has a fifty day simple moving average of $47.09 and a 200-day simple moving average of $34.10. The stock has a market cap of $149.76 billion, a price-to-earnings ratio of 328.72 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data 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. The business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

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.