Palantir Technologies (NYSE:PLTR) Trading Up 1.4%

Palantir Technologies Inc. (NYSE:PLTR)’s share price was up 1.4% during mid-day trading on Wednesday . The stock traded as high as $31.07 and last traded at $30.81. Approximately 19,352,370 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 55,491,910 shares. The stock had previously closed at $30.39.

Analysts Set New Price Targets

PLTR has been the subject of a number of recent research reports. Citigroup raised their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Monness Crespi & Hardt cut their price target on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, August 6th. The Goldman Sachs Group raised their price target on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group raised their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average price target of $23.14.

Palantir Technologies Trading Up 2.7 %

The company has a market cap of $71.41 billion, a price-to-earnings ratio of 268.27, a price-to-earnings-growth ratio of 5.29 and a beta of 2.71. The company has a fifty day moving average price of $26.60 and a two-hundred day moving average price of $23.98.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 EPS. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider David A. Glazer sold 72,500 shares of Palantir Technologies stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $31.18, for a total value of $2,260,550.00. Following the completion of the transaction, the insider now owns 298,012 shares in the company, valued at approximately $9,292,014.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Palantir Technologies news, insider Heather A. Planishek sold 10,907 shares of Palantir Technologies stock in a transaction on Monday, May 20th. The stock was sold at an average price of $21.43, for a total value of $233,737.01. Following the completion of the transaction, the insider now owns 651,099 shares in the company, valued at approximately $13,953,051.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Glazer sold 72,500 shares of Palantir Technologies stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $31.18, for a total value of $2,260,550.00. Following the completion of the transaction, the insider now owns 298,012 shares of the company’s stock, valued at approximately $9,292,014.16. The disclosure for this sale can be found here. Insiders sold 506,580 shares of company stock worth $14,748,074 in the last 90 days. 12.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Pursue Wealth Partners LLC bought a new stake in shares of Palantir Technologies during the fourth quarter worth $1,741,000. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 3.5% during the fourth 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 during the period. SG Americas Securities LLC grew its stake in shares of Palantir Technologies by 183.3% during the first quarter. SG Americas Securities LLC now owns 158,394 shares of the company’s stock worth $3,645,000 after purchasing an additional 102,479 shares during the period. Accel Wealth Management acquired a new stake in shares of Palantir Technologies during the first quarter worth $360,000. Finally, Panagora Asset Management Inc. grew its stake in shares of Palantir Technologies by 185.6% during the fourth quarter. Panagora Asset Management Inc. now owns 76,695 shares of the company’s stock worth $1,317,000 after purchasing an additional 49,839 shares during the period. Institutional investors own 45.65% of the company’s stock.

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.