Palantir Technologies (NYSE:PLTR) Stock Price Up 1.8% – Here’s Why

Palantir Technologies Inc. (NYSE:PLTR) was up 1.8% on Friday . The stock traded as high as $42.57 and last traded at $42.32. Approximately 12,539,413 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 55,967,895 shares. The stock had previously closed at $41.56.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PLTR shares. Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, August 6th. Mizuho lifted their target price on Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $9.00 target price on shares of Palantir Technologies in a research report on Tuesday, August 6th. Northland Capmk raised Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Finally, 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 research note on Wednesday, August 7th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.86.

Palantir Technologies Price Performance

The firm has a 50 day moving average of $37.77 and a two-hundred day moving average of $29.36. The stock has a market cap of $94.44 billion, a PE ratio of 248.96 and a beta of 2.72.

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

Insider Activity

In related news, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Shyam Sankar sold 50,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,204,508 shares of company stock valued at $802,654,666. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several large investors have recently bought and sold shares of the company. Walter & Keenan Wealth Management LLC IN ADV grew its holdings in Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after purchasing an additional 235 shares during the last quarter. Greater Midwest Financial Group LLC lifted its position in shares of Palantir Technologies by 0.3% in the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after acquiring an additional 250 shares in the last quarter. Quantum Private Wealth LLC lifted its position in shares of Palantir Technologies by 1.1% in the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company’s stock valued at $865,000 after acquiring an additional 250 shares in the last quarter. LCM Capital Management Inc lifted its position in shares of Palantir Technologies by 0.9% in the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company’s stock valued at $1,207,000 after acquiring an additional 300 shares in the last quarter. Finally, Creekmur Asset Management LLC lifted its position in shares of Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after acquiring an additional 335 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.