Palantir Technologies (NYSE:PLTR) Shares Up 0% – Here’s What Happened

Palantir Technologies Inc. (NYSE:PLTR)’s stock price was up 0% on Wednesday . The stock traded as high as $67.56 and last traded at $65.75. Approximately 22,105,993 shares traded hands during trading, a decline of 62% from the average daily volume of 58,676,020 shares. The stock had previously closed at $65.74.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLTR. Northland Securities raised their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. DA Davidson upped their price target on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. Finally, Northland Capmk raised Palantir Technologies to a “hold” rating in a research note on Thursday, August 22nd. Six analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.64.

Palantir Technologies Stock Performance

The company has a fifty day simple moving average of $48.27 and a two-hundred day simple moving average of $34.55. The firm has a market capitalization of $150.46 billion, a PE ratio of 412.81, a PEG ratio of 8.93 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The trade was a 41.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the sale, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. The trade was a 3.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,163,181 shares of company stock valued at $1,603,288,758. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in Palantir Technologies by 87.8% in the first quarter. Advisors Asset Management Inc. now owns 13,742 shares of the company’s stock valued at $316,000 after acquiring an additional 6,426 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of Palantir Technologies by 15.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 15,019 shares of the company’s stock worth $346,000 after purchasing an additional 2,000 shares in the last quarter. Swedbank AB purchased a new position in Palantir Technologies during the 1st quarter worth $303,000. Burney Co. acquired a new position in Palantir Technologies during the 1st quarter valued at about $226,000. Finally, PGGM Investments purchased a new stake in Palantir Technologies in the first quarter valued at about $3,024,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.