Palantir Technologies (NYSE:PLTR) Trading Up 1% – What’s Next?

Palantir Technologies Inc. (NYSE:PLTR) shares traded up 1% during mid-day trading on Wednesday . The stock traded as high as $43.44 and last traded at $43.37. 10,625,551 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 56,586,867 shares. The stock had previously closed at $42.94.

Analysts Set New Price Targets

A number of analysts recently commented on PLTR shares. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. Mizuho increased their price target on Palantir Technologies from $24.00 to $30.00 and gave the company an “underperform” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group lifted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.86.

Palantir Technologies Stock Up 2.3 %

The company’s 50-day simple moving average is $36.60 and its 200 day simple moving average is $28.62. The stock has a market capitalization of $97.54 billion, a price-to-earnings ratio of 256.22 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The company had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same quarter last year, the firm posted $0.01 earnings per share. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Lauren Elaina Friedman Stat sold 3,050 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.43, for a total transaction of $80,611.50. Following the completion of the sale, the director now directly owns 65,989 shares in the company, valued at $1,744,089.27. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Ryan D. Taylor sold 249,684 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $30.01, for a total transaction of $7,493,016.84. Following the completion of the transaction, the insider now owns 372,565 shares of the company’s stock, valued at approximately $11,180,675.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 3,050 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.43, for a total value of $80,611.50. Following the completion of the sale, the director now owns 65,989 shares of the company’s stock, valued at $1,744,089.27. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,747,176 shares of company stock worth $646,951,347 in the last quarter. 12.93% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLTR. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies in the 3rd quarter valued at $25,000. Summit Securities Group LLC bought a new stake in Palantir Technologies in the second quarter valued at about $25,000. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies in the second quarter worth about $25,000. University of Texas Texas AM Investment Management Co. bought a new position in Palantir Technologies during the second quarter worth about $30,000. Finally, Ashburton Jersey Ltd acquired a new stake in Palantir Technologies during the second quarter valued at approximately $36,000. 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.