Palantir Technologies (NASDAQ:PLTR) Stock Price Up 4.2% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR) shares were up 4.2% on Thursday . The stock traded as high as $76.59 and last traded at $74.49. Approximately 38,409,057 shares changed hands during trading, a decline of 36% from the average daily volume of 60,393,316 shares. The stock had previously closed at $71.51.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PLTR shares. Raymond James downgraded shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Mizuho upped their target price on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday. Finally, DA Davidson increased their price target on Palantir Technologies from $28.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Palantir Technologies Stock Performance

The company’s 50 day simple moving average is $57.71 and its 200 day simple moving average is $39.61. The stock has a market cap of $168.89 billion, a PE ratio of 370.72, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the business posted $0.03 earnings per share. Palantir Technologies’s revenue was up 30.0% on a year-over-year basis. Equities research analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 10,721 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the sale, the director now directly owns 100,923 shares in the company, valued at $7,748,867.94. This represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,612,366 shares of company stock worth $1,867,342,292 over the last quarter. Corporate insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in PLTR. Principal Financial Group Inc. raised its holdings in shares of Palantir Technologies by 226.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,839,680 shares of the company’s stock valued at $105,636,000 after acquiring an additional 1,969,213 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Palantir Technologies by 943.2% in the third quarter. Lord Abbett & CO. LLC now owns 3,300,766 shares of the company’s stock valued at $122,788,000 after purchasing an additional 2,984,348 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Palantir Technologies by 26.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 214,157 shares of the company’s stock valued at $8,116,000 after purchasing an additional 44,768 shares in the last quarter. Retirement Systems of Alabama bought a new stake in Palantir Technologies during the third quarter valued at approximately $16,372,000. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Palantir Technologies in the 3rd quarter worth $631,000. 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.