Palantir Technologies (NYSE:PLTR) Stock Price Up 2.1% – Here’s What Happened

Palantir Technologies Inc. (NYSE:PLTR)’s share price was up 2.1% on Thursday . The stock traded as high as $43.72 and last traded at $43.49. Approximately 13,724,391 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 56,500,262 shares. The stock had previously closed at $42.59.

Wall Street Analyst Weigh In

Several analysts have weighed in on PLTR shares. Raymond James cut shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Wedbush lifted their price objective on shares of Palantir Technologies from $38.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. The Goldman Sachs Group lifted their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Citigroup lifted their price objective on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Bank of America boosted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $27.86.

Palantir Technologies Trading Up 1.1 %

The stock’s 50-day moving average is $36.35 and its 200-day moving average is $28.52. The firm has a market capitalization of $96.39 billion, a price-to-earnings ratio of 255.84 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) 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 analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 earnings per share. On average, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the sale, the insider now directly owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 7,321 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $43.90, for a total transaction of $321,391.90. Following the sale, the director now directly owns 138,304 shares in the company, valued at $6,071,545.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,747,176 shares of company stock worth $646,951,347 in the last three months. 12.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently modified their holdings of PLTR. International Assets Investment Management LLC boosted its stake in shares of Palantir Technologies by 3,476.2% in the 3rd quarter. International Assets Investment Management LLC now owns 6,832,301 shares of the company’s stock valued at $254,162,000 after purchasing an additional 6,641,253 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after purchasing an additional 3,623,840 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Palantir Technologies by 594.3% in the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after purchasing an additional 1,980,495 shares during the last quarter. 45.65% of the stock is owned by 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.