Palantir Technologies (NYSE:PLTR) Shares Gap Up to $23.33

Palantir Technologies Inc. (NYSE:PLTR) gapped up before the market opened on Monday . The stock had previously closed at $23.33, but opened at $24.37. Palantir Technologies shares last traded at $24.82, with a volume of 34,233,027 shares changing hands.

Analyst Ratings Changes

PLTR has been the topic of several analyst reports. Jefferies Financial Group raised shares of Palantir Technologies from an “underperform” rating to a “hold” rating and upped their target price for the stock from $13.00 to $22.00 in a report on Tuesday, February 6th. Bank of America upped their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Monness Crespi & Hardt raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Mizuho boosted their target price on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Finally, Raymond James increased their price target on Palantir Technologies from $22.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.65.

Palantir Technologies Stock Down 15.1 %

The firm has a fifty day moving average of $23.40 and a 200-day moving average of $20.31. The firm has a market cap of $47.36 billion, a P/E ratio of 237.86, a PEG ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last released its 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 business had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.00, for a total value of $729,200.00. Following the transaction, the insider now directly owns 752,786 shares of the company’s stock, valued at $18,819,650. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 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 completion of the sale, the director now directly owns 70,806,432 shares of the company’s stock, valued at approximately $1,755,291,449.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at approximately $18,819,650. The disclosure for this sale can be found here. Insiders sold a total of 7,356,273 shares of company stock valued at $182,143,602 over the last ninety days. Insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Several hedge funds have recently bought and sold shares of the company. Truvestments Capital LLC raised its stake in Palantir Technologies by 74.9% during the 3rd quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock worth $26,000 after buying an additional 700 shares during the period. First United Bank & Trust bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $26,000. Pacifica Partners Inc. bought a new stake in shares of Palantir Technologies in the fourth quarter worth about $27,000. West Paces Advisors Inc. raised its position 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 worth $27,000 after purchasing an additional 620 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Palantir Technologies by 105.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after purchasing an additional 691 shares during the period. 45.65% of the stock is currently 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.