Palantir Technologies (NYSE:PLTR) Stock Price Up 1.3%

Palantir Technologies Inc. (NYSE:PLTR)’s share price was up 1.3% during mid-day trading on Thursday . The stock traded as high as $31.50 and last traded at $31.40. Approximately 14,547,173 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 55,444,453 shares. The stock had previously closed at $31.00.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PLTR shares. The Goldman Sachs Group lifted their target price on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research report on Friday, August 2nd. Mizuho downgraded shares of Palantir Technologies from a “neutral” rating to an “underperform” rating and raised their price objective for the stock from $21.00 to $22.00 in a report on Tuesday, July 16th. HSBC boosted their target price on Palantir Technologies from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Tuesday, May 7th. Finally, William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Tuesday, May 7th. Six investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average price target of $23.14.

Palantir Technologies Stock Up 0.5 %

The firm has a market cap of $69.37 billion, a P/E ratio of 261.69, a PEG ratio of 5.29 and a beta of 2.71. The firm’s fifty day moving average is $26.45 and its two-hundred day moving average is $23.93.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $678.13 million for the quarter, compared to the consensus estimate of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 EPS. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider David A. Glazer sold 72,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $31.18, for a total transaction of $2,260,550.00. Following the completion of the transaction, the insider now owns 298,012 shares of the company’s stock, valued at $9,292,014.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider David A. Glazer sold 72,500 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $31.18, for a total value of $2,260,550.00. Following the sale, the insider now directly owns 298,012 shares of the company’s stock, valued at $9,292,014.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $30.01, for a total value of $7,493,016.84. Following the transaction, the insider now owns 372,565 shares of the company’s stock, valued at $11,180,675.65. The disclosure for this sale can be found here. Insiders have sold 506,580 shares of company stock valued at $14,748,074 in the last three months. 12.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently modified their holdings of the business. Scientech Research LLC purchased a new stake in Palantir Technologies during the 2nd quarter valued at $1,243,000. Legal & General Group Plc grew its holdings in shares of Palantir Technologies by 1.4% in the second quarter. Legal & General Group Plc now owns 11,917,200 shares of the company’s stock worth $301,871,000 after acquiring an additional 167,030 shares during the period. MBB Public Markets I LLC bought a new position in Palantir Technologies in the second quarter valued at about $3,361,000. Dark Forest Capital Management LP boosted its position in Palantir Technologies by 1,233.5% in the second quarter. Dark Forest Capital Management LP now owns 668,218 shares of the company’s stock worth $16,926,000 after purchasing an additional 618,108 shares during the last quarter. Finally, Dimension Capital Management LLC grew its stake in shares of Palantir Technologies by 15.4% during the 2nd quarter. Dimension Capital Management LLC now owns 27,067 shares of the company’s stock valued at $686,000 after purchasing an additional 3,613 shares during the period. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.