Palantir Technologies (NYSE:PLTR) Trading Up 0.8%

Palantir Technologies Inc. (NYSE:PLTR)’s stock price rose 0.8% during mid-day trading on Wednesday . The stock traded as high as $22.25 and last traded at $21.82. Approximately 12,912,954 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 63,258,164 shares. The stock had previously closed at $21.64.

Analyst Upgrades and Downgrades

PLTR has been the topic of several research analyst reports. HSBC lowered Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective on the stock. in a research note on Wednesday, February 14th. Royal Bank of Canada reiterated an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and increased their price target for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Wedbush reissued an “outperform” rating and set a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Finally, Monness Crespi & Hardt downgraded Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target on the stock. in a research report on Thursday, March 28th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has an average rating of “Hold” and an average price target of $18.35.

Palantir Technologies Trading Down 0.2 %

The company has a 50-day moving average price of $23.64 and a two-hundred day moving average price of $19.99. The stock has a market capitalization of $47.77 billion, a P/E ratio of 239.80, a price-to-earnings-growth ratio of 5.14 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The company had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Research analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the sale, the director now owns 181,830 shares in the company, valued at $4,563,933. 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 Peter Thiel sold 7,044,756 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.79, for a total value of $174,639,501.24. Following the transaction, the director now directly owns 70,806,432 shares in the company, valued at approximately $1,755,291,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.10, for a total value of $125,500.00. Following the sale, the director now owns 181,830 shares of the company’s stock, valued at $4,563,933. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,456,273 shares of company stock valued at $184,343,202. Corporate insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several institutional investors have recently bought and sold shares of the stock. Halpern Financial Inc. raised its holdings in Palantir Technologies by 44.0% in the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after purchasing an additional 440 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of Palantir Technologies by 16.9% during the first quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock valued at $74,000 after acquiring an additional 463 shares in the last quarter. Principle Wealth Partners LLC increased its holdings in shares of Palantir Technologies by 4.8% during the first quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock valued at $241,000 after acquiring an additional 481 shares in the last quarter. Fiduciary Alliance LLC increased its holdings in shares of Palantir Technologies by 1.0% during the fourth quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock valued at $1,044,000 after acquiring an additional 618 shares in the last quarter. Finally, West Paces Advisors Inc. increased its holdings in shares of Palantir Technologies by 110.7% during the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after acquiring an additional 620 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

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.