Palantir Technologies (NYSE:PLTR) Trading Up 1.2%

Palantir Technologies Inc. (NYSE:PLTR) shares were up 1.2% during mid-day trading on Thursday . The stock traded as high as $22.69 and last traded at $22.39. Approximately 9,643,808 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 60,983,645 shares. The stock had previously closed at $22.12.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PLTR shares. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 6th. Bank of America upped their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Mizuho upped their price target on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Finally, HSBC downgraded Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a research note on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.35.

Palantir Technologies Price Performance

The firm has a market cap of $49.92 billion, a price-to-earnings ratio of 248.81, a P/E/G ratio of 5.39 and a beta of 2.76. The firm has a fifty day simple moving average of $23.38 and a two-hundred day simple moving average of $20.16.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The firm had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Equities analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $22.74, for a total value of $113,700.00. Following the completion of the transaction, the director now directly owns 186,783 shares of the company’s stock, valued at $4,247,445.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $23.68, for a total value of $142,080.00. Following the completion of the transaction, the director now directly owns 175,830 shares of the company’s stock, valued at $4,163,654.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexandra W. Schiff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $22.74, for a total value of $113,700.00. Following the completion of the sale, the director now owns 186,783 shares of the company’s stock, valued at $4,247,445.42. The disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock valued at $184,343,202 over the last quarter. 13.96% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in PLTR. West Paces Advisors Inc. grew its holdings in Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares in the last quarter. Bogart Wealth LLC raised its position in Palantir Technologies by 332.8% in the 1st quarter. Bogart Wealth LLC now owns 1,385 shares of the company’s stock valued at $32,000 after purchasing an additional 1,065 shares in the last quarter. Halpern Financial Inc. raised its position in Palantir Technologies by 44.0% in the 1st quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock valued at $33,000 after purchasing an additional 440 shares in the last quarter. Finally, Pacifica Partners Inc. purchased a new position in shares of Palantir Technologies in the 4th quarter valued at about $27,000. 45.65% of the stock is currently owned by hedge funds and other 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.