Palantir Technologies (NYSE:PLTR) Shares Up 1.3% – What’s Next?

Shares of Palantir Technologies Inc. (NYSE:PLTR) rose 1.3% during trading on Friday . The company traded as high as $63.04 and last traded at $62.13. Approximately 15,688,534 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 58,617,684 shares. The stock had previously closed at $61.36.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PLTR. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research note on Tuesday, August 6th. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Jefferies Financial Group downgraded Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. Citigroup raised their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Mizuho raised their price target on Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $31.71.

Palantir Technologies Stock Up 3.9 %

The firm has a market cap of $145.22 billion, a P/E ratio of 320.22 and a beta of 2.70. The firm has a fifty day moving average of $45.36 and a 200-day moving average of $33.04.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) 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 analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. On average, equities analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather A. Planishek sold 14,016 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the transaction, the insider now directly owns 576,023 shares in the company, valued at $17,666,625.41. The trade was a 2.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,547,056 shares of company stock worth $1,500,642,721 over the last 90 days. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Palantir Technologies by 60.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Palantir Technologies by 22.9% in the third quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the period. Tyler Stone Wealth Management grew its stake in Palantir Technologies by 97.9% during the third quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after acquiring an additional 99,921 shares in the last quarter. Finally, Heritage Wealth Management Inc. CA purchased a new stake in Palantir Technologies in the third quarter valued at approximately $1,076,000. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Company Profile

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.