Palantir Technologies (NYSE:PLTR) Trading 0.6% Higher

Palantir Technologies Inc. (NYSE:PLTRGet Free Report)’s stock price traded up 0.6% during trading on Tuesday . The company traded as high as $21.21 and last traded at $21.13. 9,129,349 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 60,079,656 shares. The stock had previously closed at $21.01.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. HSBC lifted their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Tuesday, May 7th. Finally, Bank of America boosted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.65.

View Our Latest Research Report on Palantir Technologies

Palantir Technologies Price Performance

The stock’s 50-day moving average is $22.33 and its 200 day moving average is $20.79. The company has a market cap of $46.99 billion, a PE ratio of 176.10, a PEG ratio of 4.85 and a beta of 2.76.

Palantir Technologies (NYSE:PLTRGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $634.34 million during the quarter, compared to analysts’ expectations of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. On average, analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 2,398 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the transaction, the insider now owns 639,696 shares of the company’s stock, valued at $13,625,524.80. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Peter Thiel sold 7,044,756 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Heather A. Planishek sold 2,398 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $21.30, for a total transaction of $51,077.40. Following the sale, the insider now owns 639,696 shares in the company, valued at approximately $13,625,524.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,412,722 shares of company stock valued at $414,573,750. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Palantir Technologies by 1.6% in the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after buying an additional 3,029,317 shares in the last quarter. Morgan Stanley lifted its stake in shares of Palantir Technologies by 26.1% in 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Palantir Technologies by 15.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after buying an additional 1,980,495 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Palantir Technologies by 5.5% in the third quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock worth $183,979,000 after buying an additional 601,012 shares in the last quarter. Finally, ARK Investment Management LLC lifted its stake in shares of Palantir Technologies by 16.1% in the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after buying an additional 1,514,232 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

(Get Free Report)

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.

Read More

Receive News & Ratings for Palantir Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palantir Technologies and related companies with MarketBeat.com's FREE daily email newsletter.