Palantir Technologies (NYSE:PLTR) Stock Price Up 3.9%

Shares of Palantir Technologies Inc. (NYSE:PLTR) shot up 3.9% during trading on Tuesday . The company traded as high as $22.06 and last traded at $21.79. 15,849,127 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 63,628,273 shares. The stock had previously closed at $20.97.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PLTR. Wedbush reiterated an “outperform” rating and issued a $35.00 price objective (up 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 report on Tuesday, February 6th. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a report on Wednesday, February 14th. Bank of America lifted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Raymond James lifted their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.35.

Palantir Technologies Trading Up 3.5 %

The company has a market cap of $48.02 billion, a P/E ratio of 241.03, a PEG ratio of 5.02 and a beta of 2.78. The business has a 50 day moving average price of $23.68 and a 200-day moving average price of $19.95.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $608.35 million for the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. On average, sell-side analysts expect that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now directly owns 662,006 shares of the company’s stock, valued at approximately $17,179,055.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Palantir Technologies news, insider Heather A. Planishek sold 32,828 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now directly owns 662,006 shares of the company’s stock, valued at approximately $17,179,055.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.79, for a total value of $174,639,501.24. Following the completion of the transaction, the director now directly owns 70,806,432 shares in the company, valued at $1,755,291,449.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. 13.96% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Palantir Technologies by 3.5% during the 4th 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 last quarter. Morgan Stanley lifted its position in shares of Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after buying an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after buying an additional 1,980,495 shares during the last quarter. Northern Trust Corp lifted its position in shares of Palantir Technologies by 5.5% during the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock worth $183,979,000 after buying an additional 601,012 shares during the last quarter. Finally, ARK Investment Management LLC lifted its position in shares of Palantir Technologies by 16.1% during the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after buying an additional 1,514,232 shares during the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.