Palantir Technologies (NYSE:PLTR) Shares Up 3.6%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was up 3.6% on Tuesday . The stock traded as high as $30.75 and last traded at $30.43. Approximately 21,944,949 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 55,516,113 shares. The stock had previously closed at $29.38.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PLTR. The Goldman Sachs Group boosted their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. 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. Finally, Wedbush restated an “outperform” rating and set a $35.00 target price on shares of Palantir Technologies in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.14.

Palantir Technologies Stock Performance

The company has a 50-day moving average of $26.45 and a 200-day moving average of $23.93. The stock has a market capitalization of $69.01 billion, a price-to-earnings ratio of 258.27, a P/E/G ratio of 5.29 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. As a group, analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In related news, insider David A. Glazer sold 72,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $31.18, for a total transaction of $2,260,550.00. Following the transaction, the insider now owns 298,012 shares of the company’s stock, valued at $9,292,014.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.24, for a total value of $604,800.00. Following the sale, the insider now directly owns 612,006 shares of the company’s stock, valued at $18,507,061.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Glazer sold 72,500 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $31.18, for a total transaction of $2,260,550.00. Following the transaction, the insider now directly owns 298,012 shares in the company, valued at approximately $9,292,014.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 506,580 shares of company stock worth $14,748,074. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in PLTR. Mirae Asset Global Investments Co. Ltd. increased its position in Palantir Technologies by 6.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,967 shares of the company’s stock worth $789,000 after purchasing an additional 2,604 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Palantir Technologies by 9.7% in the fourth quarter. International Assets Investment Management LLC now owns 168,653 shares of the company’s stock worth $2,896,000 after acquiring an additional 14,952 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Palantir Technologies by 654.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 19,054 shares of the company’s stock valued at $327,000 after acquiring an additional 16,530 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in shares of Palantir Technologies during the 4th quarter valued at $132,000. Finally, Simplicity Solutions LLC boosted its position in Palantir Technologies by 2.8% during the 4th quarter. Simplicity Solutions LLC now owns 54,650 shares of the company’s stock worth $938,000 after purchasing an additional 1,469 shares during the period. 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.