Palantir Technologies (NYSE:PLTR) Trading Up 1.2%

Palantir Technologies Inc. (NYSE:PLTR)’s share price rose 1.2% during mid-day trading on Friday . The stock traded as high as $25.54 and last traded at $25.53. Approximately 9,127,889 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 56,548,141 shares. The stock had previously closed at $25.22.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research analyst reports. HSBC increased their price objective on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Tuesday, May 7th. Monness Crespi & Hardt downgraded Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a research note on Friday, June 21st. Royal Bank of Canada raised their price target on Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research note on Tuesday, May 7th. Bank of America raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Argus initiated coverage on Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price target for the company. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.25.

Palantir Technologies Trading Up 0.2 %

The stock has a market cap of $56.25 billion, a price-to-earnings ratio of 212.77, a price-to-earnings-growth ratio of 5.56 and a beta of 2.70. The stock has a fifty day simple moving average of $22.53 and a 200-day simple moving average of $21.43.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The firm had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. Sell-side analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Heather A. Planishek sold 2,398 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total value of $51,077.40. Following the completion of the sale, the insider now owns 639,696 shares in the company, valued at approximately $13,625,524.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Eric H. Woersching sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the transaction, the director now owns 32,843 shares in the company, valued at approximately $853,918. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heather A. Planishek sold 2,398 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $21.30, for a total value of $51,077.40. Following the transaction, the insider now owns 639,696 shares of the company’s stock, valued at approximately $13,625,524.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,377,153 shares of company stock worth $240,054,945. 12.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in Palantir Technologies by 3,246.0% in the first quarter. EverSource Wealth Advisors LLC now owns 194,839 shares of the company’s stock worth $4,281,000 after purchasing an additional 189,016 shares in the last quarter. Garde Capital Inc. boosted its stake in Palantir Technologies by 62.3% in the first quarter. Garde Capital Inc. now owns 40,992 shares of the company’s stock worth $943,000 after purchasing an additional 15,734 shares in the last quarter. Cetera Advisors LLC boosted its stake in Palantir Technologies by 51.3% in the first quarter. Cetera Advisors LLC now owns 163,382 shares of the company’s stock worth $3,759,000 after purchasing an additional 55,375 shares in the last quarter. PGGM Investments acquired a new position in Palantir Technologies in the first quarter worth $3,024,000. Finally, Wellington Shields & Co. LLC bought a new stake in shares of Palantir Technologies during the first quarter worth $214,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.