Palantir Technologies (NYSE:PLTR) Shares Up 1.2%

Palantir Technologies Inc. (NYSE:PLTR) shares shot up 1.2% during mid-day trading on Thursday . The company traded as high as $22.69 and last traded at $22.39. 9,643,808 shares traded hands during trading, a decline of 84% from the average session volume of 60,983,645 shares. The stock had previously closed at $22.12.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and raised their price target for the company from $13.00 to $22.00 in a research report on Tuesday, February 6th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and upped their target price for the company from $10.00 to $20.00 in a report on Tuesday, February 6th. Bank of America boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Mizuho lifted their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $5.00 price target on shares of Palantir Technologies in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Price Performance

The firm’s 50 day moving average price is $23.36 and its two-hundred day moving average price is $20.22. The stock has a market cap of $51.62 billion, a PE ratio of 259.25, a P/E/G ratio of 5.53 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS 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 business had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity at Palantir Technologies

In other news, Director Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total transaction of $174,639,501.24. Following the sale, the director now directly owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at $18,819,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Thiel sold 7,044,756 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the transaction, the director now owns 70,806,432 shares of the company’s stock, valued at $1,755,291,449.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,476,273 shares of company stock worth $184,783,602. 13.96% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

Large investors have recently modified their holdings of the business. Halpern Financial Inc. lifted its holdings in shares of Palantir Technologies by 44.0% during the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after acquiring an additional 440 shares during the last quarter. Harbor Investment Advisory LLC raised its position in Palantir Technologies by 16.9% during the first quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock valued at $74,000 after purchasing an additional 463 shares in the last quarter. Principle Wealth Partners LLC lifted its stake in Palantir Technologies by 4.8% during the first quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock worth $241,000 after purchasing an additional 481 shares during the last quarter. GSB Wealth Management LLC boosted its holdings in shares of Palantir Technologies by 4.6% in the 1st quarter. GSB Wealth Management LLC now owns 13,475 shares of the company’s stock worth $310,000 after purchasing an additional 595 shares in the last quarter. Finally, Fiduciary Alliance LLC increased its position in shares of Palantir Technologies by 1.0% during the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after purchasing an additional 618 shares during the last quarter. 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.