Palantir Technologies (NYSE:PLTR) Shares Up 3.3%

Palantir Technologies Inc. (NYSE:PLTR) traded up 3.3% during mid-day trading on Friday . The company traded as high as $22.67 and last traded at $22.43. 15,405,387 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 62,470,840 shares. The stock had previously closed at $21.71.

Wall Street Analyst Weigh In

Several analysts have commented on PLTR shares. Citigroup upgraded shares of Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $10.00 to $20.00 in a research note on Tuesday, February 6th. Wedbush reissued an “outperform” rating and set a $35.00 price target (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday. Mizuho upped their price objective on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

The firm has a market cap of $49.83 billion, a P/E ratio of 250.25, a PEG ratio of 5.32 and a beta of 2.78. The stock’s 50-day simple moving average is $23.45 and its two-hundred day simple moving average is $20.06.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The firm had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $24.91, for a total transaction of $124,550.00. Following the completion of the transaction, the director now owns 191,783 shares in the company, valued at approximately $4,777,314.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $23.68, for a total value of $142,080.00. Following the transaction, the director now directly owns 175,830 shares in the company, valued at approximately $4,163,654.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $24.91, for a total transaction of $124,550.00. Following the transaction, the director now directly owns 191,783 shares in the company, valued at $4,777,314.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Qsemble Capital Management LP bought a new position in shares of Palantir Technologies during the 3rd quarter worth $1,178,000. Trexquant Investment LP bought a new position in Palantir Technologies during the 3rd quarter worth about $4,446,000. Victory Capital Management Inc. increased its position in Palantir Technologies by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock valued at $10,959,000 after purchasing an additional 25,787 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Palantir Technologies by 10.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock valued at $20,549,000 after purchasing an additional 116,220 shares in the last quarter. Finally, Korea Investment CORP lifted its position in shares of Palantir Technologies by 148.4% in the 3rd quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock worth $3,103,000 after purchasing an additional 115,876 shares during the period. Institutional investors own 45.65% of the company’s stock.

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.