Palantir Technologies (NASDAQ:PLTR) Stock Price Up 1.5% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR) traded up 1.5% during trading on Tuesday . The stock traded as high as $73.43 and last traded at $72.86. 22,930,669 shares were traded during trading, a decline of 66% from the average session volume of 68,350,414 shares. The stock had previously closed at $71.77.

Analyst Upgrades and Downgrades

PLTR has been the subject of several recent analyst reports. Wedbush raised their price objective on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday. Bank of America lifted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Baird R W upgraded shares of Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.61.

Palantir Technologies Trading Up 2.7 %

The stock’s 50 day moving average price is $71.30 and its two-hundred day moving average price is $48.32. The firm has a market capitalization of $179.92 billion, a price-to-earnings ratio of 394.92, a PEG ratio of 6.73 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the company posted $0.03 earnings per share. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This represents a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of Palantir Technologies stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total value of $823,158.38. Following the transaction, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. 12.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. First PREMIER Bank acquired a new position in shares of Palantir Technologies in the 4th quarter valued at about $28,000. Wolff Wiese Magana LLC raised its holdings in Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after buying an additional 265 shares during the period. R Squared Ltd acquired a new position in Palantir Technologies during the fourth quarter valued at approximately $33,000. Financial Management Professionals Inc. grew its stake in Palantir Technologies by 171.5% during the fourth quarter. Financial Management Professionals Inc. now owns 543 shares of the company’s stock worth $41,000 after buying an additional 343 shares during the period. Finally, Trivant Custom Portfolio Group LLC increased its position in shares of Palantir Technologies by 313.3% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 620 shares of the company’s stock worth $47,000 after acquiring an additional 470 shares in the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.