Palantir Technologies (NASDAQ:PLTR) Trading Up 4.4% – Here’s What Happened

Palantir Technologies Inc. (NASDAQ:PLTR) shares shot up 4.4% on Tuesday . The stock traded as high as $79.46 and last traded at $78.74. 27,885,928 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 68,070,008 shares. The stock had previously closed at $75.44.

Analyst Ratings Changes

PLTR has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Mizuho boosted their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. DA Davidson lifted their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird started coverage on shares of Palantir Technologies in a research note on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $44.61.

Palantir Technologies Stock Performance

The stock’s fifty day simple moving average is $72.25 and its 200-day simple moving average is $49.52. The stock has a market cap of $182.77 billion, a P/E ratio of 401.17, a P/E/G ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 earnings per share. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total transaction of $999,200.00. Following the completion of the transaction, the insider now owns 562,006 shares of the company’s stock, valued at approximately $28,077,819.76. The trade was a 3.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $76.78, for a total transaction of $823,158.38. Following the completion of the transaction, the director now directly owns 100,923 shares of the company’s stock, valued at approximately $7,748,867.94. The trade was a 9.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,181,807 shares of company stock valued at $1,288,448,522 in the last ninety days. 12.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans boosted its stake in shares of Palantir Technologies by 20.9% during the second quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock valued at $1,336,000 after purchasing an additional 9,109 shares in the last quarter. ProShare Advisors LLC grew its holdings in Palantir Technologies by 14.9% during the 2nd quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after acquiring an additional 1,702 shares during the last quarter. AXA S.A. increased its position in Palantir Technologies by 443.5% in the 2nd quarter. AXA S.A. now owns 116,302 shares of the company’s stock valued at $2,946,000 after acquiring an additional 94,903 shares during the period. Magnolia Capital Advisors LLC bought a new position in shares of Palantir Technologies during the second quarter valued at $381,000. Finally, Nemes Rush Group LLC lifted its holdings in Palantir Technologies by 28.3% during the 2nd quarter. Nemes Rush Group LLC now owns 10,196 shares of the company’s stock worth $258,000 after buying an additional 2,250 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

About Palantir Technologies

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.