Palantir Technologies Inc. (NYSE:PLTR) Sees Significant Drop in Short Interest

Palantir Technologies Inc. (NYSE:PLTR) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 63,450,000 shares, a decrease of 21.8% from the July 15th total of 81,120,000 shares. Based on an average daily volume of 45,980,000 shares, the days-to-cover ratio is presently 1.4 days.

Wall Street Analyst Weigh In

PLTR has been the subject of several research reports. The Goldman Sachs Group increased their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price objective on shares of Palantir Technologies in a report on Tuesday, August 6th. Monness Crespi & Hardt dropped their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Jefferies Financial Group raised their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $23.14.

Insider Activity

In other news, insider David A. Glazer sold 72,500 shares of the business’s 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 completion of the transaction, the insider now directly owns 298,012 shares in the company, valued at $9,292,014.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Palantir Technologies news, insider Heather A. Planishek sold 10,907 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the sale, the insider now directly owns 651,099 shares of the company’s stock, valued at approximately $13,953,051.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David A. Glazer sold 72,500 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 298,012 shares in the company, valued at $9,292,014.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 506,580 shares of company stock valued at $14,748,074. 12.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after acquiring an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC raised its holdings in Palantir Technologies by 2.2% in the 2nd quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock worth $329,875,000 after acquiring an additional 277,623 shares during the last quarter. Legal & General Group Plc raised its holdings in Palantir Technologies by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after acquiring an additional 167,030 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. raised its holdings in Palantir Technologies by 19.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after acquiring an additional 1,580,548 shares during the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Stock Performance

Shares of Palantir Technologies stock traded up $0.84 on Friday, reaching $32.07. 64,743,928 shares of the stock were exchanged, compared to its average volume of 55,685,449. The firm’s 50 day moving average is $26.78 and its 200-day moving average is $24.09. Palantir Technologies has a one year low of $13.68 and a one year high of $32.75. The firm has a market cap of $71.41 billion, a PE ratio of 267.23, 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 analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. On average, equities research analysts expect that Palantir Technologies will post 0.19 EPS 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.