Palantir Technologies (NYSE:PLTR) Shares Up 1.3%

Palantir Technologies Inc. (NYSE:PLTR) traded up 1.3% during mid-day trading on Tuesday . The company traded as high as $25.53 and last traded at $25.34. 19,864,796 shares were traded during mid-day trading, a decline of 65% from the average session volume of 57,283,227 shares. The stock had previously closed at $25.02.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a research report on Monday, May 6th. Citigroup lifted their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Mizuho lifted their price objective on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Tuesday, May 7th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus price target of $21.25.

Palantir Technologies Price Performance

The firm has a market capitalization of $57.45 billion, a PE ratio of 211.18, a PEG ratio of 5.44 and a beta of 2.70. The firm’s fifty day moving average is $22.09 and its two-hundred day moving average is $21.10.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $634.34 million for the quarter, compared to analyst estimates of $614.88 million. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity

In other news, Director Peter Thiel sold 6,285,833 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the sale, the director now owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter Thiel sold 6,285,833 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the transaction, the director now directly owns 64,520,599 shares of the company’s stock, valued at approximately $1,376,224,376.67. The disclosure for this sale can be found here. Insiders have sold a total of 11,374,153 shares of company stock valued at $239,976,945 over the last quarter. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently bought and sold shares of PLTR. Vanguard Group Inc. grew its stake in Palantir Technologies by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock worth $2,997,419,000 after buying an additional 18,756,392 shares in the last quarter. Morgan Stanley boosted its stake in shares of Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd boosted its stake in shares of Palantir Technologies by 314.7% in the 3rd quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company’s stock valued at $84,571,000 after purchasing an additional 4,011,100 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after purchasing an additional 3,623,840 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Palantir Technologies in the 3rd quarter valued at $55,719,000. 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.