Northland Securities Issues Positive Forecast for Palantir Technologies (NYSE:PLTR) Stock Price

Palantir Technologies (NYSE:PLTR) had its price objective increased by Northland Securities from $35.00 to $38.00 in a report issued on Tuesday,Benzinga reports. They currently have a market perform rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Bank of America upped their target price on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Mizuho upped their price target on Palantir Technologies from $24.00 to $30.00 and gave the stock an “underperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group upped their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two 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 $31.71.

Palantir Technologies Stock Performance

Shares of NYSE PLTR opened at $58.42 on Tuesday. The stock has a market cap of $130.83 billion, a price-to-earnings ratio of 292.11 and a beta of 2.70. The business has a 50 day simple moving average of $39.60 and a 200 day simple moving average of $30.33. Palantir Technologies has a 52 week low of $15.66 and a 52 week high of $58.48.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, analysts predict that Palantir Technologies will post 0.19 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David A. Glazer sold 72,500 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $31.18, for a total value of $2,260,550.00. Following the sale, the insider now owns 298,012 shares in the company, valued at $9,292,014.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,482,878 shares of company stock worth $1,044,202,496 over the last three months. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several large investors have recently made changes to their positions in the business. LPL Financial LLC grew its holdings in shares of Palantir Technologies by 22.8% during the third quarter. LPL Financial LLC now owns 3,100,520 shares of the company’s stock worth $115,339,000 after purchasing an additional 575,790 shares during the last quarter. Trustmark National Bank Trust Department bought a new stake in shares of Palantir Technologies during the third quarter worth $207,000. Advisors Asset Management Inc. grew its holdings in shares of Palantir Technologies by 76.0% during the third quarter. Advisors Asset Management Inc. now owns 53,665 shares of the company’s stock worth $1,996,000 after purchasing an additional 23,178 shares during the last quarter. Kirtland Hills Capital Management LLC boosted its holdings in Palantir Technologies by 128.2% in the third quarter. Kirtland Hills Capital Management LLC now owns 27,312 shares of the company’s stock valued at $1,016,000 after acquiring an additional 15,344 shares during the last quarter. Finally, Strategy Asset Managers LLC bought a new position in Palantir Technologies in the third quarter valued at about $927,000. 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.