Palantir Technologies (NASDAQ:PLTR) Given New $105.00 Price Target at DA Davidson

Palantir Technologies (NASDAQ:PLTR) had its price objective increased by investment analysts at DA Davidson from $47.00 to $105.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. DA Davidson’s price objective would suggest a potential downside of 0.64% from the company’s previous close.

PLTR has been the topic of a number of other research reports. Cantor Fitzgerald increased their target price on Palantir Technologies from $72.00 to $98.00 and gave the company a “neutral” rating in a research note on Tuesday. Robert W. Baird boosted their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wedbush boosted their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Jefferies Financial Group boosted their price target on Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.78.

Palantir Technologies Trading Up 26.2 %

PLTR stock traded up $21.93 during mid-day trading on Tuesday, hitting $105.67. The stock had a trading volume of 109,616,250 shares, compared to its average volume of 72,685,938. The firm has a fifty day simple moving average of $74.09 and a 200 day simple moving average of $51.39. The firm has a market capitalization of $240.72 billion, a P/E ratio of 528.39, a P/E/G ratio of 7.54 and a beta of 2.81. Palantir Technologies has a 52 week low of $16.48 and a 52 week high of $106.91.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. As a group, equities analysts expect that Palantir Technologies will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $55.03, for a total value of $247,635,000.00. Following the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $353,967,157.74. This represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the completion of the sale, the director now directly owns 195,393 shares of the company’s stock, valued at $13,996,000.59. The trade was a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,153,753 shares of company stock valued at $1,287,042,675. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Czech National Bank acquired a new stake in shares of Palantir Technologies during the third quarter worth $15,261,000. GAMMA Investing LLC lifted its position in shares of Palantir Technologies by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 5,713 shares of the company’s stock valued at $213,000 after acquiring an additional 2,607 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new position in Palantir Technologies in the 3rd quarter worth approximately $209,000. Diversified Trust Co raised its stake in Palantir Technologies by 172.7% during the 3rd quarter. Diversified Trust Co now owns 21,559 shares of the company’s stock valued at $802,000 after purchasing an additional 13,652 shares during the period. Finally, Smith Anglin Financial LLC acquired a new position in Palantir Technologies in the third quarter worth approximately $273,000. 45.65% of the stock is currently owned by 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.