Palantir Technologies (NASDAQ:PLTR) Trading Up 2.3% After Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price rose 2.3% during mid-day trading on Friday after Loop Capital raised their price target on the stock from $130.00 to $155.00. Loop Capital currently has a buy rating on the stock. Palantir Technologies traded as high as $138.49 and last traded at $138.25. Approximately 34,368,438 shares were traded during trading, a decline of 57% from the average daily volume of 80,373,479 shares. The stock had previously closed at $135.19.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group boosted their price target on Palantir Technologies from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. William Blair set a $84.00 price objective on shares of Palantir Technologies in a research report on Wednesday, March 5th. UBS Group upped their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Finally, Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a “neutral” rating and a $90.00 target price on the stock. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $86.30.

Insider Activity at Palantir Technologies

In related news, Director Eric H. Woersching sold 17,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $129.29, for a total transaction of $2,197,930.00. Following the transaction, the director now owns 12,562 shares in the company, valued at $1,624,140.98. This trade represents a 57.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 405,000 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the transaction, the insider now owns 702,786 shares of the company’s stock, valued at approximately $92,823,974.88. This trade represents a 36.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,816,925 shares of company stock valued at $215,448,358. 9.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its position in Palantir Technologies by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock valued at $3,929,401,000 after purchasing an additional 4,127,306 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company’s stock worth $1,650,310,000 after acquiring an additional 64,973 shares during the period. Norges Bank bought a new position in shares of Palantir Technologies during the fourth quarter valued at $1,360,191,000. Invesco Ltd. boosted its holdings in shares of Palantir Technologies by 20.3% in the 1st quarter. Invesco Ltd. now owns 17,746,956 shares of the company’s stock worth $1,497,843,000 after acquiring an additional 2,998,716 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Palantir Technologies by 22.6% in the fourth quarter. FMR LLC now owns 15,296,371 shares of the company’s stock valued at $1,156,864,000 after buying an additional 2,818,090 shares during the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 2.1%

The company has a 50 day moving average price of $114.28 and a 200 day moving average price of $94.12. The company has a market capitalization of $325.83 billion, a price-to-earnings ratio of 727.64, a PEG ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, hitting analysts’ consensus estimates of $0.13. The business had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. Palantir Technologies’s quarterly revenue was up 39.4% on a year-over-year basis. During the same quarter last year, the company posted $0.08 earnings per share. Equities analysts predict that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.