Palantir Technologies (NYSE:PLTR) Trading 2.6% Higher – What’s Next?

Palantir Technologies Inc. (NYSE:PLTR) shares rose 2.6% on Tuesday . The company traded as high as $75.56 and last traded at $74.35. Approximately 37,232,359 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 59,493,512 shares. The stock had previously closed at $72.46.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Northland Securities upped their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. DA Davidson upped their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Wedbush raised their price objective on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a report on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.64.

Palantir Technologies Stock Down 0.8 %

The business’s 50 day moving average is $52.96 and its two-hundred day moving average is $37.16. The firm has a market cap of $163.79 billion, a P/E ratio of 371.75, a P/E/G ratio of 10.29 and a beta of 2.87.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the firm posted $0.03 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the transaction, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 155,539 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total value of $5,446,975.78. Following the completion of the sale, the insider now directly owns 331,369 shares of the company’s stock, valued at $11,604,542.38. This trade represents a 31.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,397,131 shares of company stock worth $1,971,713,059 in the last quarter. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PLTR. Retirement Systems of Alabama bought a new stake in Palantir Technologies during the 3rd quarter worth approximately $16,372,000. Oddo BHF Asset Management Sas purchased a new stake in Palantir Technologies in the 3rd quarter valued at $631,000. Beaird Harris Wealth Management LLC lifted its stake in Palantir Technologies by 1,736.1% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 31,085 shares of the company’s stock valued at $1,156,000 after acquiring an additional 29,392 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Palantir Technologies by 102.3% during the 3rd quarter. Franklin Resources Inc. now owns 171,653 shares of the company’s stock worth $6,385,000 after acquiring an additional 86,793 shares during the last quarter. Finally, Tri Ri Asset Management Corp bought a new stake in shares of Palantir Technologies in the 3rd quarter worth $23,403,000. 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.