Palantir Technologies (NYSE:PLTR) Trading 1% Higher

Palantir Technologies Inc. (NYSE:PLTR) shares traded up 1% during mid-day trading on Monday . The company traded as high as $23.09 and last traded at $22.74. 12,556,001 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 62,088,695 shares. The stock had previously closed at $22.52.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Monness Crespi & Hardt raised Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $20.00 in a report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and set a $35.00 price objective (up previously from $30.00) on shares of Palantir Technologies in a report on Friday, March 8th. Mizuho boosted their price target on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Finally, Bank of America boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Stock Performance

The business has a 50 day moving average of $23.39 and a two-hundred day moving average of $20.14. The firm has a market capitalization of $48.61 billion, a price-to-earnings ratio of 244.14, a P/E/G ratio of 5.60 and a beta of 2.78.

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

Insiders Place Their Bets

In related news, Director Alexandra W. Schiff sold 5,000 shares of the stock in a transaction 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 sale, the director now owns 186,783 shares in the company, valued at $4,247,445.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Alexandra W. Schiff sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $22.74, for a total value of $113,700.00. Following the sale, the director now directly owns 186,783 shares of the company’s stock, valued at $4,247,445.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather A. Planishek sold 8,521 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $23.27, for a total transaction of $198,283.67. Following the completion of the sale, the insider now owns 703,485 shares of the company’s stock, valued at $16,370,095.95. The disclosure for this sale can be found here. Insiders have sold a total of 7,456,273 shares of company stock worth $184,343,202 over the last 90 days. Corporate insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several large investors have recently made changes to their positions in PLTR. Truvestments Capital LLC grew its position in Palantir Technologies by 74.9% in the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after purchasing an additional 700 shares during the period. First United Bank & Trust bought a new stake in Palantir Technologies in the 4th quarter worth approximately $26,000. Pacifica Partners Inc. bought a new stake in Palantir Technologies in the 4th quarter worth approximately $27,000. West Paces Advisors Inc. grew its position in Palantir Technologies by 110.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock worth $27,000 after purchasing an additional 620 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew 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 worth $31,000 after purchasing an additional 691 shares during the period. 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.