Palantir Technologies (NYSE:PLTR) Stock Price Up 2.6%

Palantir Technologies Inc. (NYSE:PLTR) shares traded up 2.6% on Friday . The company traded as high as $23.64 and last traded at $23.14. 21,701,204 shares were traded during trading, a decline of 64% from the average session volume of 60,762,535 shares. The stock had previously closed at $22.55.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Bank of America raised their target price on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Monness Crespi & Hardt upgraded Palantir Technologies from a “sell” rating to a “neutral” rating in a research report on Friday, April 26th. Royal Bank of Canada reissued an “underperform” rating and set a $5.00 price target on shares of Palantir Technologies in a research report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price objective for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Finally, Mizuho increased their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.35.

Palantir Technologies Trading Up 3.5 %

The business has a fifty day moving average of $23.36 and a two-hundred day moving average of $20.22. The company has a market cap of $51.62 billion, a price-to-earnings ratio of 259.25, a PEG ratio of 5.53 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $608.35 million for the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. On average, research analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the sale, the director now directly owns 1,595,519 shares in the company, valued at approximately $35,133,328.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the sale, the director now owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction dated Monday, April 1st. The shares were 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 disclosure for this sale can be found here. Insiders sold 7,476,273 shares of company stock valued at $184,783,602 over the last 90 days. Corporate insiders own 13.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Palantir Technologies by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after purchasing an additional 6,466,596 shares during the period. Morgan Stanley increased its holdings in shares of Palantir Technologies by 26.1% during the 3rd 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 last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Palantir Technologies by 15.7% during 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 buying an additional 1,980,495 shares during the period. Northern Trust Corp lifted its holdings in Palantir Technologies by 5.5% in the third quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after acquiring an additional 601,012 shares during the last quarter. Finally, ARK Investment Management LLC increased its stake in Palantir Technologies by 16.1% during the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after acquiring an additional 1,514,232 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.