Palantir Technologies (NASDAQ:PLTR) Shares Up 1% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR) was up 1% on Thursday . The company traded as high as $178.44 and last traded at $177.92. Approximately 29,004,569 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 80,726,742 shares. The stock had previously closed at $176.08.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Raymond James Financial reiterated a “market perform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. Northland Securities lifted their price target on Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. Morgan Stanley upped their price objective on Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Wall Street Zen downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Friday, November 28th. Finally, Daiwa Capital Markets increased their target price on shares of Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $172.28.

Palantir Technologies Trading Up 1.0%

The stock has a market capitalization of $424.06 billion, a PE ratio of 423.63, a price-to-earnings-growth ratio of 6.62 and a beta of 1.49. The company’s 50-day moving average is $178.93 and its 200 day moving average is $160.70.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the business posted $0.10 EPS. The business’s quarterly revenue was up 62.8% compared to the same quarter last year. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Shyam Sankar sold 19,004 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the transaction, the insider directly owned 642,786 shares in the company, valued at $100,435,312.50. The trade was a 2.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey Buckley sold 1,252 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $157.50, for a total value of $197,190.00. Following the completion of the sale, the insider owned 47,044 shares of the company’s stock, valued at approximately $7,409,430. The trade was a 2.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,065,892 shares of company stock valued at $173,869,312. Insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently bought and sold shares of the company. Bare Financial Services Inc increased its holdings in Palantir Technologies by 54.5% in the 3rd quarter. Bare Financial Services Inc now owns 156 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. Financial Consulate Inc. purchased a new position in shares of Palantir Technologies during the third quarter worth $30,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Palantir Technologies in the third quarter valued at $31,000. United Financial Planning Group LLC purchased a new stake in shares of Palantir Technologies in the 3rd quarter valued at $32,000. Finally, Flagship Wealth Advisors LLC acquired a new position in Palantir Technologies during the 3rd quarter worth about $32,000. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.