Palantir Technologies (NYSE:PLTR) Trading 1% Higher

Palantir Technologies Inc. (NYSE:PLTR) traded up 1% during trading on Tuesday . The stock traded as high as $24.89 and last traded at $24.76. 10,789,233 shares changed hands during trading, a decline of 85% from the average session volume of 71,854,500 shares. The stock had previously closed at $24.51.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Raymond James upped their price target on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and upped their price objective for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and upped their price target for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a report on Tuesday, February 6th. Finally, Bank of America upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $18.21.

Palantir Technologies Stock Down 1.6 %

The business’s 50-day simple moving average is $22.40 and its two-hundred day simple moving average is $19.03. The firm has a market cap of $54.21 billion, a price-to-earnings ratio of 272.25, a P/E/G ratio of 6.10 and a beta of 2.82.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. On average, analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 4,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total transaction of $64,440.00. Following the transaction, the director now owns 200,783 shares in the company, valued at $3,234,614.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Palantir Technologies news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the sale, the insider now owns 181,460 shares in the company, valued at $3,992,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $16.11, for a total value of $64,440.00. Following the transaction, the director now owns 200,783 shares of the company’s stock, valued at $3,234,614.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,455,273 shares of company stock valued at $184,293,942. Corporate insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Pacifica Partners Inc. acquired a new position in shares of Palantir Technologies in the 4th quarter worth approximately $27,000. First United Bank & Trust acquired a new position in Palantir Technologies during the fourth quarter worth $26,000. Quilter Plc purchased a new position in shares of Palantir Technologies during the first quarter worth $1,568,940,000. Truvestments Capital LLC grew its stake in shares of Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after buying an additional 700 shares in the last quarter. Finally, Tortoise Investment Management LLC purchased a new stake in shares of Palantir Technologies in the 4th quarter valued at $34,000. Hedge funds and other 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.