Palantir Technologies (NYSE:PLTR) Trading Up 1.4%

Palantir Technologies Inc. (NYSE:PLTR) shares traded up 1.4% during trading on Wednesday . The company traded as high as $31.07 and last traded at $30.81. 19,352,370 shares changed hands during trading, a decline of 65% from the average session volume of 55,491,910 shares. The stock had previously closed at $30.39.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wedbush reissued an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a report on Friday, August 2nd. Argus assumed coverage on Palantir Technologies in a report on Monday, June 17th. They set a “buy” rating and a $29.00 price objective for the company. Mizuho lowered Palantir Technologies from a “neutral” rating to an “underperform” rating and boosted their price objective for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. Monness Crespi & Hardt decreased their price objective on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Finally, HSBC boosted their price objective on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.14.

Palantir Technologies Stock Up 2.7 %

The firm has a 50 day moving average of $26.60 and a 200 day moving average of $23.98. The firm has a market cap of $71.41 billion, a PE ratio of 268.27, a P/E/G ratio of 5.29 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. Palantir Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 2,398 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the sale, the insider now owns 639,696 shares in the company, valued at $13,625,524.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Palantir Technologies news, insider Heather A. Planishek sold 2,398 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total transaction of $51,077.40. Following the sale, the insider now owns 639,696 shares in the company, valued at $13,625,524.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather A. Planishek sold 10,907 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $21.43, for a total value of $233,737.01. Following the sale, the insider now owns 651,099 shares in the company, valued at approximately $13,953,051.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 506,580 shares of company stock worth $14,748,074. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Pursue Wealth Partners LLC bought a new position in shares of Palantir Technologies in the fourth quarter worth $1,741,000. Vanguard Group Inc. increased its holdings in shares of Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. SG Americas Securities LLC increased its holdings in shares of Palantir Technologies by 183.3% in the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after purchasing an additional 102,479 shares during the period. Accel Wealth Management bought a new position in shares of Palantir Technologies in the first quarter worth $360,000. Finally, Panagora Asset Management Inc. increased its holdings in shares of Palantir Technologies by 185.6% in the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock worth $1,317,000 after purchasing an additional 49,839 shares during the period. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.