Palantir Technologies (NASDAQ:PLTR) Shares Up 3.1% – Here’s Why

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded up 3.1% on Friday . The company traded as high as $184.42 and last traded at $182.39. 108,813,401 shares were traded during trading, an increase of 22% from the average session volume of 89,191,133 shares. The stock had previously closed at $176.97.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Mizuho set a $165.00 price objective on shares of Palantir Technologies in a research report on Monday, September 15th. DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Morgan Stanley set a $155.00 price objective on shares of Palantir Technologies and gave the company an “equal weight” rating in a research report on Tuesday, August 5th. Citigroup reiterated a “neutral” rating and set a $177.00 price objective (up previously from $158.00) on shares of Palantir Technologies in a research report on Tuesday, August 5th. Finally, Wedbush set a $200.00 price objective on shares of Palantir Technologies and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $138.28.

Palantir Technologies Trading Up 3.1%

The company has a market cap of $432.69 billion, a PE ratio of 607.99, a P/E/G ratio of 10.28 and a beta of 2.59. The company’s 50 day moving average is $163.32 and its 200 day moving average is $130.19.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $939.29 million. Palantir Technologies had a net margin of 22.18% and a return on equity of 10.75%. The firm’s revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $158.35, for a total transaction of $5,708,200.80. Following the completion of the sale, the insider directly owned 307,470 shares in the company, valued at approximately $48,687,874.50. The trade was a 10.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 21,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $165.95, for a total transaction of $3,484,950.00. Following the sale, the director owned 59,794 shares of the company’s stock, valued at approximately $9,922,814.30. The trade was a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,625,634 shares of company stock worth $248,926,404. Corporate insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in PLTR. Mechanics Financial Corp acquired a new position in shares of Palantir Technologies in the 1st quarter valued at $25,000. Signature Resources Capital Management LLC purchased a new stake in shares of Palantir Technologies during the second quarter worth $25,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Palantir Technologies during the first quarter worth $27,000. 1248 Management LLC acquired a new position in shares of Palantir Technologies during the 1st quarter valued at about $27,000. Finally, Briaud Financial Planning Inc acquired a new position in shares of Palantir Technologies during the 2nd quarter valued at about $27,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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.