Palantir Technologies (NYSE:PLTR) Shares Up 3.9%

Shares of Palantir Technologies Inc. (NYSE:PLTR) shot up 3.9% during mid-day trading on Tuesday . The company traded as high as $22.06 and last traded at $21.79. 15,849,127 shares changed hands during trading, a decline of 75% from the average session volume of 63,628,273 shares. The stock had previously closed at $20.97.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PLTR. HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research report on Wednesday, February 14th. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and increased their target price for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and increased their target price for the company from $10.00 to $20.00 in a report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Finally, Raymond James increased their target price on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.35.

Palantir Technologies Stock Down 0.3 %

The company has a market capitalization of $47.75 billion, a PE ratio of 239.80, a price-to-earnings-growth ratio of 5.31 and a beta of 2.78. The firm has a 50-day moving average of $23.57 and a two-hundred day moving average of $20.00.

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

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the completion of the transaction, the director now directly owns 181,830 shares in the company, valued at $4,563,933. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the transaction, the director now owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the completion of the transaction, the director now owns 181,830 shares in the company, valued at approximately $4,563,933. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,456,273 shares of company stock worth $184,343,202. Company insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the stock. West Paces Advisors Inc. boosted its holdings in Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after purchasing an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Palantir Technologies by 105.3% in the 1st 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 in the last quarter. Halpern Financial Inc. boosted its holdings in Palantir Technologies by 44.0% in the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after purchasing an additional 440 shares in the last quarter. Pacifica Partners Inc. purchased a new stake in Palantir Technologies in the 4th quarter valued at approximately $27,000. Finally, First United Bank & Trust purchased a new stake in Palantir Technologies in the 4th quarter valued at approximately $26,000. Institutional investors and hedge funds 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.