Palantir Technologies (NYSE:PLTR) Trades 0.6% Higher

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Shares of Palantir Technologies Inc. (NYSE:PLTR – Get Free Report ) traded up 0.6% on Monday. The stock traded as high as $36.37 and last traded at $35.82. 23,866,510 shares traded hands during trading, down 56% from the average session volume of 54,796,887 shares. Shares previously closed at $35.59.

Changes in Analyst Ratings

Several research firms recently issued reports on PLTR. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Jefferies Financial Group boosted their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Goldman Sachs Group raised their price target on shares of Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. DA Davidson upped their target price on shares of Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Finally, Bank of America boosted their target price on shares of Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. . Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Palantir Technologies currently has a consensus rating of “Hold” and an average price target of $26.79, according to MarketBeat .

Read the latest stock report on PLTR

Palantir Technologies stock performance

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The stock has a market cap of $81.06 billion, a PE ratio of 303.17, a price-to-earnings-growth ratio of 6.16 and a beta of 2.72. The company’s 50-day moving average price is $30.04 and its 200-day moving average price is $25.66.

Palantir Technologies (NYSE:PLTR – Get Your Free Report ) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The company had revenue of $678.13 million during the quarter, compared to analysts’ expectations of $653.23 million. In the same quarter last year, the company posted earnings of $0.01 per share. The company’s quarterly revenue was up 27.2% year over year. As a group, equities research analysts predict that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Trading at Palantir Technologies

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. In related news, Director Eric H. Woersching sold 3,026 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. The disclosure for this sale can be found here. Insiders have sold a total of 5,377,238 shares of company stock worth $190,013,572 over the last ninety days. Company insiders own 12.93% of the company’s shares.

Hedge funds influence Palantir technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 6,466,596 shares in the last quarter. 1832 Asset Management LP boosted its holdings in Palantir Technologies by 248,208.2% in the 1st quarter. 1832 Asset Management LP now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after buying an additional 3,623,840 shares in the last quarter. Marshall Wace LLP boosted its stake in Palantir Technologies by 594.3% in the second quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock valued at $89,926,000 after purchasing an additional 3,038,861 shares during the last quarter. Norges Bank acquired a new stake in Palantir Technologies in the fourth quarter valued at about $46,542,000. Finally, Coatue Management LLC boosted its position in shares of Palantir Technologies by 285.6% in the 4th quarter. Coatue Management LLC now owns 3,447,363 shares of the company’s stock worth $59,191,000 after purchasing an additional 2,553,432 shares in the last quarter. 45.65% of shares are owned by institutional investors and hedge funds.

About Palantir Technologies

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Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counter-terrorism investigations and operations in the United States, United Kingdom and internationally. The company provides Palantir Gotham, a software platform that enables users to identify patterns hidden deep in data sets ranging from signals intelligence sources to reports from confidential informants, as well as facilitates handoff between analysts and operational users, helping operators plan and execute worldwide responses to threats that have been identified within the platform.