Palantir Technologies (NYSE:PLTR) Shares Up 5.9%

Palantir Technologies Inc. (NYSE:PLTR)’s share price rose 5.9% during trading on Monday . The company traded as high as $25.08 and last traded at $24.71. Approximately 49,742,364 shares were traded during trading, a decline of 18% from the average daily volume of 61,018,949 shares. The stock had previously closed at $23.33.

Analyst Ratings Changes

PLTR has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “underperform” rating and set a $5.00 price target on shares of Palantir Technologies in a report on Tuesday, February 6th. Bank of America boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and boosted their price target for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Wedbush restated an “outperform” rating and set a $35.00 price objective on shares of Palantir Technologies in a research report on Monday. Finally, Mizuho boosted their price objective on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.35.

Palantir Technologies Stock Up 8.1 %

The company has a market capitalization of $55.81 billion, a price-to-earnings ratio of 280.25, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76. The stock has a 50 day moving average of $23.36 and a 200 day moving average of $20.25.

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 analyst estimates of $603.48 million. As a group, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now owns 662,006 shares in the company, valued at $17,179,055.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,476,273 shares of company stock valued at $184,783,602. 13.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently modified their holdings of PLTR. Truvestments Capital LLC lifted its holdings in shares of Palantir Technologies by 74.9% in the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares in the last quarter. First United Bank & Trust bought a new position in shares of Palantir Technologies in the 4th quarter worth $26,000. Pacifica Partners Inc. bought a new position in shares of Palantir Technologies in the 4th quarter worth $27,000. West Paces Advisors Inc. lifted its holdings in shares of Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after purchasing an additional 691 shares in the last quarter. 45.65% of the stock is currently owned by institutional investors.

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.