Palantir Technologies (NYSE:PLTR) Trading Up 3.6%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was up 3.6% during trading on Tuesday . The company traded as high as $30.75 and last traded at $30.43. Approximately 21,944,949 shares were traded during trading, a decline of 60% from the average daily volume of 55,516,113 shares. The stock had previously closed at $29.38.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PLTR. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price target on shares of Palantir Technologies in a report on Tuesday, August 6th. Argus started coverage on Palantir Technologies in a research report on Monday, June 17th. They set a “buy” rating and a $29.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. HSBC increased their target price on shares of Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Finally, Raymond James boosted their price target on shares of Palantir Technologies from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has a consensus rating of “Hold” and an average target price of $23.14.

Palantir Technologies Stock Up 2.0 %

The firm has a market capitalization of $69.01 billion, a price-to-earnings ratio of 258.27, a P/E/G ratio of 5.29 and a beta of 2.71. The business has a 50-day moving average price of $26.45 and a 200-day moving average price of $23.93.

Palantir Technologies (NYSE:PLTR) last announced its earnings results on Monday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same period in the prior year, the company posted $0.01 EPS. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, equities research analysts forecast that Palantir Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of Palantir Technologies stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the sale, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Palantir Technologies news, insider Ryan D. Taylor sold 249,684 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the transaction, the insider now directly owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather A. Planishek sold 10,907 shares of Palantir Technologies stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $21.43, for a total transaction of $233,737.01. Following the sale, the insider now owns 651,099 shares of the company’s stock, valued at $13,953,051.57. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 506,580 shares of company stock worth $14,748,074. Company insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies during the 2nd quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies in the second quarter worth about $25,000. First United Bank & Trust purchased a new stake in shares of Palantir Technologies during the 4th quarter worth about $26,000. West Paces Advisors Inc. grew its position in shares of Palantir Technologies by 110.7% during the 1st quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after acquiring an additional 691 shares during the period. 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.