Palantir Technologies (NYSE:PLTR) Shares Up 3.9%

Palantir Technologies Inc. (NYSE:PLTR) shares rose 3.9% on Tuesday . The company traded as high as $22.06 and last traded at $21.79. Approximately 15,849,127 shares changed hands during trading, a decline of 75% from the average daily volume of 63,628,273 shares. The stock had previously closed at $20.97.

Wall Street Analyst Weigh In

PLTR has been the topic of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Mizuho boosted their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a report on Wednesday, February 14th. Royal Bank of Canada reissued an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a report on Tuesday, February 6th. Finally, Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Stock Down 0.3 %

The stock has a market cap of $47.75 billion, a price-to-earnings ratio of 239.80, a price-to-earnings-growth ratio of 5.31 and a beta of 2.78. The company’s 50-day simple moving average is $23.57 and its 200-day simple moving average is $20.00.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate 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, analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Ryan D. Taylor sold 150,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the transaction, the insider now directly owns 181,460 shares in the company, valued at approximately $4,355,040. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 5,000 shares of Palantir Technologies stock in a transaction on Friday, February 9th. The shares were sold at an average price of $25.10, for a total transaction of $125,500.00. Following the completion of the sale, the director now owns 181,830 shares of the company’s stock, valued at approximately $4,563,933. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan D. Taylor sold 150,000 shares of Palantir Technologies stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the sale, the insider now directly owns 181,460 shares of the company’s stock, valued at approximately $4,355,040. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,456,273 shares of company stock worth $184,343,202. Corporate insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Palantir Technologies by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock valued at $3,327,636,000 after buying an additional 6,466,596 shares during the period. Morgan Stanley lifted its stake in shares of Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted 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. Northern Trust Corp lifted its stake in shares of Palantir Technologies by 5.5% in the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock valued at $183,979,000 after purchasing an additional 601,012 shares during the last quarter. Finally, ARK Investment Management LLC lifted its stake in shares of Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after purchasing an additional 1,514,232 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

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.