Palantir Technologies (NASDAQ:PLTR) Shares Up 3.3% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price was up 3.3% during trading on Friday . The stock traded as high as $115.47 and last traded at $114.94. Approximately 63,243,284 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 80,349,414 shares. The stock had previously closed at $111.28.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Palantir Technologies from $90.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada increased their target price on Palantir Technologies from $11.00 to $40.00 and gave the company an “underperform” rating in a research note on Tuesday. UBS Group upped their price target on shares of Palantir Technologies from $80.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday. William Blair reissued an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Mizuho boosted their price objective on Palantir Technologies from $44.00 to $80.00 and gave the company an “underperform” rating in a report on Tuesday. Six research 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.44.

Palantir Technologies Price Performance

The firm has a market capitalization of $258.22 billion, a price-to-earnings ratio of 563.84, a PEG ratio of 7.54 and a beta of 2.81. The stock’s 50 day moving average price is $76.46 and its two-hundred day moving average price is $52.67.

Palantir Technologies (NASDAQ:PLTR) last issued its earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million for the quarter, compared to analyst estimates 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 was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In other news, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the sale, the director now directly owns 195,393 shares of the company’s stock, valued at approximately $13,996,000.59. This represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 11,794 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $102.80, for a total transaction of $1,212,423.20. Following the completion of the transaction, the director now directly owns 88,129 shares in the company, valued at approximately $9,059,661.20. This represents a 11.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,656,687 shares of company stock worth $1,040,105,687. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock worth $460,798,000 after purchasing an additional 4,667,955 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in Palantir Technologies in the 4th quarter worth approximately $876,000. Destiny Wealth Partners LLC bought a new stake in Palantir Technologies in the fourth quarter worth $3,233,000. State of Alaska Department of Revenue increased its stake in Palantir Technologies by 22.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares during the period. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Palantir Technologies by 19.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock worth $20,146,000 after acquiring an additional 87,062 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

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.