Palantir Technologies (NYSE:PLTR) Trading 1.2% Higher

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded up 1.2% during trading on Monday . The stock traded as high as $25.93 and last traded at $25.64. 11,663,658 shares traded hands during trading, a decline of 79% from the average session volume of 56,433,836 shares. The stock had previously closed at $25.33.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several analyst reports. Mizuho raised their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Palantir Technologies from $18.00 to $20.00 and gave the stock a “sell” rating in a research report on Tuesday, May 7th. William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 7th. HSBC boosted their price objective on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Tuesday, May 7th. Finally, Citigroup raised their target price on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.25.

Palantir Technologies Price Performance

The firm’s 50 day simple moving average is $22.63 and its two-hundred day simple moving average is $21.54. The firm has a market capitalization of $57.43 billion, a P/E ratio of 213.68, a P/E/G ratio of 5.85 and a beta of 2.71.

Palantir Technologies (NYSE:PLTR) last released its earnings results on Monday, May 6th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. The company had revenue of $634.34 million during the quarter, compared to analyst estimates of $614.88 million. As a group, equities research analysts forecast that Palantir Technologies Inc. will post 0.16 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Peter Thiel sold 5,000,000 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the sale, the director now owns 15,733,625 shares of the company’s stock, valued at approximately $326,944,727.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now owns 1,595,519 shares in the company, valued at $35,133,328.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Peter Thiel sold 5,000,000 shares of Palantir Technologies stock in a transaction on Friday, May 10th. The shares were sold at an average price of $20.78, for a total transaction of $103,900,000.00. Following the completion of the sale, the director now owns 15,733,625 shares in the company, valued at approximately $326,944,727.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,372,153 shares of company stock worth $239,941,245. Insiders own 12.93% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently modified their holdings of PLTR. Federated Hermes Inc. bought a new position in Palantir Technologies in the third quarter worth $83,000. O Shaughnessy Asset Management LLC lifted its position in Palantir Technologies by 111.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 28,180 shares of the company’s stock valued at $451,000 after acquiring an additional 14,843 shares during the period. Bank of Nova Scotia boosted its stake in Palantir Technologies by 13.3% during the third quarter. Bank of Nova Scotia now owns 39,045 shares of the company’s stock worth $625,000 after acquiring an additional 4,595 shares in the last quarter. Teza Capital Management LLC grew its holdings in Palantir Technologies by 200.3% in the third quarter. Teza Capital Management LLC now owns 47,609 shares of the company’s stock worth $762,000 after purchasing an additional 31,757 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Palantir Technologies by 76,089.5% during the third quarter. Lazard Asset Management LLC now owns 43,428 shares of the company’s stock valued at $694,000 after purchasing an additional 43,371 shares in the last quarter. Institutional investors 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.