Palantir Technologies (NYSE:PLTR) Sees Strong Trading Volume

Palantir Technologies Inc. (NYSE:PLTR) saw strong trading volume on Tuesday . 17,064,804 shares were traded during trading, a decline of 69% from the previous session’s volume of 54,874,367 shares.The stock last traded at $36.06 and had previously closed at $36.31.

Analyst Ratings Changes

Several equities research analysts have commented on PLTR shares. Argus began coverage on Palantir Technologies in a research report on Monday, June 17th. They issued a “buy” rating and a $29.00 price objective on the stock. Citigroup increased their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. 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 objective for the company. Bank of America increased their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Palantir Technologies in a report on Monday, September 9th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.79.

Palantir Technologies Stock Up 0.1 %

The stock’s 50-day moving average price is $29.86 and its 200 day moving average price is $25.58. The firm has a market capitalization of $81.40 billion, a price-to-earnings ratio of 303.44, 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 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the previous year, the company posted $0.01 EPS. The firm’s revenue was up 27.2% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at $834,876. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total transaction of $57,940.00. Following the completion of the transaction, the director now owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the sale, the director now owns 29,817 shares of the company’s stock, valued at $834,876. The disclosure for this sale can be found here. In the last quarter, insiders have sold 877,238 shares of company stock valued at $27,698,572. 12.93% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Palantir Technologies by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after buying an additional 6,466,596 shares during the period. SG Americas Securities LLC grew its position in Palantir Technologies by 183.3% in the 1st quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock valued at $3,645,000 after acquiring an additional 102,479 shares in the last quarter. Accel Wealth Management purchased a new stake in Palantir Technologies during the first quarter worth about $360,000. Panagora Asset Management Inc. lifted its position in shares of Palantir Technologies by 185.6% during the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock worth $1,317,000 after purchasing an additional 49,839 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Palantir Technologies in the first quarter valued at approximately $262,000. 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.