Palantir Technologies (NYSE:PLTR) Stock Price Up 0.4%

Palantir Technologies Inc. (NYSE:PLTR) rose 0.4% during mid-day trading on Thursday . The company traded as high as $27.53 and last traded at $27.01. Approximately 7,290,221 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 54,330,102 shares. The stock had previously closed at $26.89.

Wall Street Analysts Forecast Growth

PLTR has been the subject of a number of analyst reports. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Jefferies Financial Group lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Citigroup boosted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wedbush restated an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research note on Friday. Finally, DA Davidson boosted their price objective on shares of Palantir Technologies from $19.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Seven equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.96.

Palantir Technologies Stock Down 5.1 %

The stock’s 50-day moving average is $25.37 and its 200-day moving average is $23.24. The firm has a market cap of $55.09 billion, a P/E ratio of 206.18, a price-to-earnings-growth ratio of 6.02 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The firm had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. As a group, analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexander D. Moore sold 20,422 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $22.94, for a total value of $468,480.68. Following the sale, the director now owns 1,587,707 shares of the company’s stock, valued at approximately $36,421,998.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Alexander D. Moore sold 20,422 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $22.94, for a total value of $468,480.68. Following the sale, the director now owns 1,587,707 shares of the company’s stock, valued at approximately $36,421,998.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Thiel sold 6,285,833 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the sale, the director now directly owns 64,520,599 shares in the company, valued at approximately $1,376,224,376.67. The disclosure for this sale can be found here. Insiders have sold 11,447,179 shares of company stock valued at $242,285,913 in the last 90 days. 12.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pursue Wealth Partners LLC acquired a new position in Palantir Technologies during the 4th quarter worth about $1,741,000. Vanguard Group Inc. lifted its position in Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. SG Americas Securities LLC lifted its position in Palantir Technologies by 183.3% during the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after purchasing an additional 102,479 shares during the period. Accel Wealth Management acquired a new position in Palantir Technologies during the 1st quarter valued at about $360,000. Finally, Panagora Asset Management Inc. lifted its position in Palantir Technologies by 185.6% during the 4th quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock valued at $1,317,000 after purchasing an additional 49,839 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.