Palantir Technologies (NYSE:PLTR) Stock Price Up 0.6%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded up 0.6% on Monday . The stock traded as high as $36.37 and last traded at $35.82. 23,866,510 shares were traded during trading, a decline of 56% from the average session volume of 54,796,887 shares. The stock had previously closed at $35.59.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Palantir Technologies in a report on Monday, September 9th. Royal Bank of Canada restated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Bank of America increased their price objective on Palantir Technologies from $30.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Citigroup boosted their target price on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, DA Davidson lifted their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.79.

Palantir Technologies Trading Up 3.5 %

The firm has a market cap of $82.52 billion, a price-to-earnings ratio of 306.94, a PEG ratio of 6.16 and a beta of 2.72. The firm’s 50 day simple moving average is $29.69 and its two-hundred day simple moving average is $25.50.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business’s revenue was up 27.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Eric H. Woersching sold 3,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $26.00, for a total value of $78,000.00. Following the transaction, the director now owns 32,843 shares in the company, valued at $853,918. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the transaction, the director now directly owns 65,989 shares of the company’s stock, valued at $1,744,089.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric H. Woersching sold 3,000 shares of Palantir Technologies 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 transaction, the director now directly owns 32,843 shares in the company, valued at approximately $853,918. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 880,238 shares of company stock valued at $27,776,572. 12.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in Palantir Technologies in the second quarter valued at $3,587,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Palantir Technologies during the second quarter valued at approximately $125,000. Cetera Investment Advisers increased its holdings in shares of Palantir Technologies by 25.2% in the 2nd quarter. Cetera Investment Advisers now owns 707,674 shares of the company’s stock worth $17,925,000 after purchasing an additional 142,411 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in Palantir Technologies during the 2nd quarter valued at about $319,000. Finally, Truist Financial Corp boosted its holdings in shares of Palantir Technologies by 21.5% during the 2nd quarter. Truist Financial Corp now owns 449,356 shares of the company’s stock valued at $11,382,000 after acquiring an additional 79,618 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.