Palantir Technologies (NYSE:PLTR) Trading Up 1.5%

Palantir Technologies Inc. (NYSE:PLTR) shares traded up 1.5% during trading on Wednesday . The company traded as high as $26.27 and last traded at $26.22. 9,559,725 shares traded hands during trading, a decline of 83% from the average session volume of 56,035,000 shares. The stock had previously closed at $25.83.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PLTR shares. HSBC raised their target price on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. DA Davidson lifted their price objective on shares of Palantir Technologies from $19.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Tuesday, May 7th. Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a report on Friday, June 21st. Finally, Royal Bank of Canada increased their price objective on Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $21.25.

Palantir Technologies Stock Up 0.7 %

The company has a 50 day moving average of $22.81 and a two-hundred day moving average of $21.65. The firm has a market cap of $57.94 billion, a P/E ratio of 218.52, a PEG ratio of 5.85 and a beta of 2.71.

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

Insider Activity

In related news, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Peter Thiel sold 6,285,833 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the sale, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The disclosure for this sale can be found here. Insiders sold a total of 11,372,153 shares of company stock valued at $239,941,245 over the last three months. Insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently bought and sold shares of PLTR. First United Bank & Trust purchased a new position in Palantir Technologies in the fourth quarter valued at about $26,000. Pacifica Partners Inc. bought a new stake in shares of Palantir Technologies in the 4th quarter valued at approximately $27,000. West Paces Advisors Inc. increased its holdings in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after buying an additional 620 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares in the last quarter. Finally, Bogart Wealth LLC lifted its stake in Palantir Technologies by 332.8% in the first quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after acquiring an additional 1,065 shares during the last quarter. Hedge funds and other institutional investors 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.