Palantir Technologies (NYSE:PLTR) Trading 2.6% Higher

Palantir Technologies Inc. (NYSE:PLTR) shares were up 2.6% on Friday . The company traded as high as $23.64 and last traded at $23.14. Approximately 21,701,204 shares traded hands during trading, a decline of 64% from the average daily volume of 60,762,535 shares. The stock had previously closed at $22.55.

Analysts Set New Price Targets

A number of research analysts have weighed in on PLTR shares. Bank of America increased their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a report on Wednesday, February 14th. Raymond James boosted their price objective on shares of Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 6th. Citigroup raised Palantir Technologies from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Finally, Mizuho raised their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Three research 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. According to data from MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Price Performance

The business’s fifty day simple moving average is $23.36 and its 200 day simple moving average is $20.17. The stock has a market cap of $51.62 billion, a price-to-earnings ratio of 257.14, a P/E/G ratio of 5.42 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last issued its earnings results 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). Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. The business had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. As a group, equities analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares in the company, valued at $3,992,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at $3,992,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of Palantir Technologies stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $25.10, for a total transaction of $125,500.00. Following the transaction, the director now owns 181,830 shares in the company, valued at $4,563,933. The disclosure for this sale can be found here. Insiders have sold 7,476,273 shares of company stock valued at $184,783,602 over the last three months. Company insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Hedge funds have recently bought and sold shares of the business. Wellington Shields Capital Management LLC acquired a new stake in Palantir Technologies during the first quarter worth about $121,000. Easterly Investment Partners LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $345,000. Wellington Shields & Co. LLC bought a new stake in shares of Palantir Technologies during the first quarter valued at approximately $214,000. Nikko Asset Management Americas Inc. lifted its position in Palantir Technologies by 19.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock worth $226,180,000 after purchasing an additional 1,580,548 shares during the period. Finally, Absolute Capital Management LLC acquired a new stake in Palantir Technologies during the first quarter worth $255,000. 45.65% of the stock is owned by institutional investors and hedge funds.

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.