Palantir Technologies (NYSE:PLTR) Trading 0.6% Higher

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

Analysts Set New Price Targets

A number of research firms have issued reports on PLTR. Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Palantir Technologies in a research note on Monday, September 9th. The Goldman Sachs Group lifted their target price on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Northland Securities initiated coverage on shares of Palantir Technologies in a report on Thursday, August 22nd. They issued a “market perform” rating and a $35.00 price target for the company. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and upped their price target for the company from $21.00 to $22.00 in a report on Tuesday, July 16th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research report on Tuesday, August 6th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus target price of $26.79.

Palantir Technologies Stock Up 3.5 %

The company’s 50-day moving average price is $29.69 and its 200-day moving average price is $25.50. 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.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The firm had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same period last year, the firm posted $0.01 earnings per share. Palantir Technologies’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Eric H. Woersching sold 3,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $26.00, for a total transaction of $78,000.00. Following the completion of the sale, the director now owns 32,843 shares in the company, valued at approximately $853,918. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $78,000.00. Following the completion of the sale, the director now directly owns 32,843 shares of the company’s stock, valued at approximately $853,918. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan D. Taylor sold 155,539 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total value of $5,446,975.78. Following the completion of the transaction, the insider now directly owns 331,369 shares in the company, valued at approximately $11,604,542.38. The disclosure for this sale can be found here. Insiders have sold 880,238 shares of company stock valued at $27,776,572 in the last ninety days. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in shares of Palantir Technologies during the 2nd quarter worth $25,000. Farmers & Merchants Investments Inc. purchased a new position in Palantir Technologies in the second quarter valued at about $25,000. West Paces Advisors Inc. lifted its position in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock worth $31,000 after acquiring an additional 691 shares in the last quarter. Finally, Bogart Wealth LLC grew its holdings in shares of Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock worth $32,000 after acquiring an additional 1,065 shares during the period. 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.