Palantir Technologies (NASDAQ:PLTR) Trading 3.2% Higher – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price rose 3.2% during mid-day trading on Wednesday . The company traded as high as $68.85 and last traded at $68.05. Approximately 25,371,768 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 72,275,148 shares. The stock had previously closed at $65.91.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Raymond James cut Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Mizuho boosted their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Northland Securities raised their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. UBS Group began coverage on shares of Palantir Technologies in a research report on Thursday, December 19th. They set a “neutral” rating and a $80.00 price target on the stock. Finally, Morgan Stanley restated an “underweight” rating and issued a $60.00 price objective on shares of Palantir Technologies in a report on Monday, January 6th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.78.

Palantir Technologies Price Performance

The stock has a market capitalization of $163.49 billion, a P/E ratio of 358.87, a PEG ratio of 6.24 and a beta of 2.82. The stock’s 50-day simple moving average is $70.22 and its 200 day simple moving average is $46.85.

Palantir Technologies (NASDAQ:PLTR) last announced its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. Palantir Technologies’s revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. As a group, analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the transaction, the insider now directly owns 331,369 shares of the company’s stock, valued at $14,911,605. This represents a 27.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 5,250,000 shares of Palantir Technologies stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total value of $367,920,000.00. Following the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at $52,755,242.88. This represents a 87.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,642,189 shares of company stock worth $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PLTR. RMR Wealth Builders boosted its stake in shares of Palantir Technologies by 2.4% in the fourth quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after buying an additional 167 shares during the period. Christensen King & Associates Investment Services Inc. grew its holdings in shares of Palantir Technologies by 3.0% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after purchasing an additional 174 shares in the last quarter. ST Germain D J Co. Inc. increased its position in shares of Palantir Technologies by 4.4% in the fourth quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company’s stock worth $362,000 after purchasing an additional 200 shares during the period. Walter & Keenan Wealth Management LLC IN ADV raised its stake in Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after purchasing an additional 235 shares in the last quarter. Finally, Greater Midwest Financial Group LLC lifted its position in Palantir Technologies by 0.3% during the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock worth $3,251,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.