Palantir Technologies (NYSE:PLTR) Stock Price Up 1%

Palantir Technologies Inc. (NYSE:PLTR) shot up 1% during trading on Monday . The company traded as high as $23.09 and last traded at $22.74. 12,556,001 shares were traded during trading, a decline of 80% from the average session volume of 62,088,695 shares. The stock had previously closed at $22.52.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PLTR. Mizuho increased their target price on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Royal Bank of Canada restated an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a research report on Tuesday, February 6th. Bank of America raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a research note on Friday. Finally, Citigroup upgraded Palantir Technologies from a “sell” rating to a “neutral” rating and increased their target price for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Price Performance

The firm has a market cap of $50.30 billion, a price-to-earnings ratio of 252.69, a P/E/G ratio of 5.52 and a beta of 2.78. The firm has a fifty day simple moving average of $23.45 and a two-hundred day simple moving average of $20.08.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results 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 analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. Equities analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Alexandra W. Schiff sold 5,000 shares of Palantir Technologies stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now owns 186,783 shares of the company’s stock, valued at $4,247,445.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $22.74, for a total value of $113,700.00. Following the completion of the transaction, the director now directly owns 186,783 shares of the company’s stock, valued at approximately $4,247,445.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $23.68, for a total value of $142,080.00. Following the completion of the sale, the director now directly owns 175,830 shares of the company’s stock, valued at $4,163,654.40. The disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock valued at $184,343,202 over the last quarter. 13.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 11.1% during the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after acquiring an additional 18,756,392 shares during the period. Morgan Stanley increased its position in Palantir Technologies by 26.1% during the third quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after buying an additional 4,675,824 shares during the period. KEYWISE CAPITAL MANAGEMENT HK Ltd increased its position in Palantir Technologies by 314.7% during the third quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock worth $84,571,000 after buying an additional 4,011,100 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Palantir Technologies in the 3rd quarter valued at approximately $55,719,000. Finally, International Assets Investment Management LLC grew its stake in shares of Palantir Technologies by 1,784.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company’s stock valued at $49,720,000 after purchasing an additional 2,742,071 shares during the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.