Palantir Technologies (NASDAQ:PLTR) Trading 3.4% Higher After Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price traded up 3.4% during mid-day trading on Friday after Wedbush raised their price target on the stock from $75.00 to $90.00. Wedbush currently has an outperform rating on the stock. Palantir Technologies traded as high as $82.24 and last traded at $81.69. 31,749,892 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 67,221,500 shares. The stock had previously closed at $78.98.

Several other research analysts have also recently issued reports on PLTR. Morgan Stanley reissued an “underweight” rating and issued a $60.00 price target on shares of Palantir Technologies in a research note on Monday, January 6th. Mizuho increased their price target on Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. The Goldman Sachs Group upped their price objective on Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Cantor Fitzgerald assumed coverage on Palantir Technologies in a report on Friday, January 17th. They issued a “neutral” rating and a $72.00 price objective for the company. Finally, Baird R W upgraded Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $44.61.

Insider Buying and Selling

In other Palantir Technologies news, insider Alexander C. Karp sold 3,337,048 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at $289,580,255.16. This represents a 34.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the transaction, the director now directly owns 62,139 shares in the company, valued at approximately $4,740,584.31. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,518,855 shares of company stock valued at $1,438,682,423. Corporate insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Tritonpoint Wealth LLC increased its holdings in shares of Palantir Technologies by 1.9% during the 4th quarter. Tritonpoint Wealth LLC now owns 7,100 shares of the company’s stock valued at $537,000 after acquiring an additional 132 shares during the last quarter. Kennebec Savings Bank increased its holdings in shares of Palantir Technologies by 29.5% during the 4th quarter. Kennebec Savings Bank now owns 698 shares of the company’s stock valued at $53,000 after acquiring an additional 159 shares during the last quarter. RMR Wealth Builders increased its holdings in shares of Palantir Technologies by 2.4% during the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after acquiring an additional 167 shares during the last quarter. Bay Rivers Group boosted its stake in Palantir Technologies by 2.7% during the 4th quarter. Bay Rivers Group now owns 6,406 shares of the company’s stock valued at $484,000 after purchasing an additional 171 shares during the period. Finally, Christensen King & Associates Investment Services Inc. boosted its stake in Palantir Technologies by 3.0% during the 4th quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock valued at $486,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

The firm has a 50 day moving average of $71.70 and a two-hundred day moving average of $48.53. The stock has a market cap of $186.19 billion, a P/E ratio of 408.47, a P/E/G ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the company earned $0.03 EPS. The company’s quarterly revenue was up 30.0% on a year-over-year basis. On average, sell-side analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.