Palantir Technologies (NYSE:PLTR) Shares Gap Up – What’s Next?

Palantir Technologies Inc. (NYSE:PLTRGet Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $59.18, but opened at $61.01. Palantir Technologies shares last traded at $62.65, with a volume of 17,013,443 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on PLTR. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reiterated an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a research note on Tuesday, August 6th. Jefferies Financial Group cut Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price target on the stock. in a research report on Thursday, November 7th. DA Davidson increased their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.71.

View Our Latest Stock Report on PLTR

Palantir Technologies Stock Performance

The company has a market capitalization of $145.43 billion, a PE ratio of 318.82 and a beta of 2.70. The firm’s 50-day simple moving average is $42.48 and its 200 day simple moving average is $31.65.

Palantir Technologies (NYSE:PLTRGet Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, equities analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at $232,011,546.06. This represents a 41.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Heather A. Planishek sold 11,373 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $32.25, for a total value of $366,779.25. Following the completion of the transaction, the insider now directly owns 600,633 shares in the company, valued at $19,370,414.25. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,239,238 shares of company stock valued at $1,036,731,557 in the last quarter. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently modified their holdings of PLTR. IHT Wealth Management LLC boosted its holdings in Palantir Technologies by 94.2% in the third quarter. IHT Wealth Management LLC now owns 119,257 shares of the company’s stock valued at $4,415,000 after purchasing an additional 57,846 shares during the last quarter. Intrepid Capital Management Inc. raised its position in shares of Palantir Technologies by 2.8% in the 3rd quarter. Intrepid Capital Management Inc. now owns 36,687 shares of the company’s stock valued at $1,365,000 after purchasing an additional 987 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Palantir Technologies by 11.9% during the third quarter. Integrated Wealth Concepts LLC now owns 136,554 shares of the company’s stock worth $5,080,000 after buying an additional 14,520 shares in the last quarter. Investment Management Corp of Ontario increased its stake in shares of Palantir Technologies by 58.4% in the third quarter. Investment Management Corp of Ontario now owns 67,251 shares of the company’s stock worth $2,502,000 after buying an additional 24,800 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Palantir Technologies in the third quarter valued at $280,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

(Get Free Report)

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.

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