Palantir Technologies (NYSE:PLTR) Sees Large Volume Increase

Palantir Technologies Inc. (NYSE:PLTR) shares saw an uptick in trading volume on Tuesday . Approximately 17,064,804 shares traded hands during mid-day trading, a decline of 69% from the previous session’s volume of 54,874,367 shares.The stock last traded at $36.06 and had previously closed at $36.31.

Analyst Ratings Changes

PLTR has been the topic of several analyst reports. Royal Bank of Canada reiterated an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Northland Capmk upgraded Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Argus started coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 target price on the stock. Jefferies Financial Group lifted their price target on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group increased their price objective on shares of Palantir Technologies from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.79.

Palantir Technologies Stock Up 0.1 %

The stock has a market capitalization of $81.40 billion, a PE ratio of 303.44, a PEG ratio of 6.16 and a beta of 2.72. The firm’s fifty day moving average is $29.86 and its 200-day moving average is $25.58.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.03 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 business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same period in the prior year, the business earned $0.01 earnings per share. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. On average, analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other Palantir Technologies news, Director Eric H. Woersching sold 3,026 shares of the company’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 transaction, the director now directly owns 29,817 shares in the company, valued at $834,876. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 2,000 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $28.97, for a total value of $57,940.00. Following the sale, the director now owns 69,039 shares of the company’s stock, valued at $2,000,059.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric H. Woersching sold 3,026 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total value of $84,728.00. Following the transaction, the director now owns 29,817 shares of the company’s stock, valued at $834,876. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 877,238 shares of company stock worth $27,698,572. Corporate insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in Palantir Technologies in the 2nd quarter valued at $3,587,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Palantir Technologies in the 2nd quarter valued at about $125,000. Cetera Investment Advisers increased its position in Palantir Technologies by 25.2% during the 2nd quarter. Cetera Investment Advisers now owns 707,674 shares of the company’s stock worth $17,925,000 after purchasing an additional 142,411 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new position in Palantir Technologies in the second quarter valued at approximately $319,000. Finally, Truist Financial Corp lifted its position in Palantir Technologies by 21.5% during the second quarter. Truist Financial Corp now owns 449,356 shares of the company’s stock valued at $11,382,000 after buying an additional 79,618 shares in the last quarter. 45.65% of the stock is owned by institutional investors and hedge funds.

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.