Palantir Technologies (NYSE:PLTR) Trading 0.8% Higher – What’s Next?

Palantir Technologies Inc. (NYSE:PLTR) shares traded up 0.8% during trading on Monday . The stock traded as high as $44.39 and last traded at $43.84. 15,825,055 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 57,218,242 shares. The stock had previously closed at $43.51.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PLTR shares. Mizuho cut Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price target for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Wedbush upped their price target on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Citigroup increased their price objective on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, DA Davidson lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.29.

Palantir Technologies Price Performance

The business’s 50-day moving average is $34.08 and its 200 day moving average is $27.44. The firm has a market capitalization of $97.14 billion, a P/E ratio of 365.33 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. Analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $39.95, for a total value of $799,000.00. Following the sale, the insider now owns 562,006 shares of the company’s stock, valued at $22,452,139.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the sale, the insider now owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of Palantir Technologies stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now owns 65,989 shares of the company’s stock, valued at approximately $1,744,089.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,829,855 shares of company stock worth $649,272,355 in the last ninety days. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PLTR. Summit Securities Group LLC purchased a new stake in Palantir Technologies during the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Palantir Technologies in the second quarter worth $25,000. West Paces Advisors Inc. increased its stake in Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after acquiring an additional 620 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Palantir Technologies during the second quarter worth about $30,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares during the last quarter. 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.