Stock Traders Purchase High Volume of Call Options on Palantir Technologies (NYSE:PLTR)

Palantir Technologies Inc. (NYSE:PLTR) saw unusually large options trading activity on Monday. Traders bought 708,257 call options on the stock. This is an increase of 28% compared to the average daily volume of 554,299 call options.

Insiders Place Their Bets

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 416,053 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $74.17, for a total value of $30,858,651.01. Following the completion of the sale, the insider now owns 592 shares of the company’s stock, valued at $43,908.64. The trade was a 99.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter Thiel sold 4,254,666 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.77, for a total value of $156,444,068.82. Following the sale, the director now directly owns 51,234,275 shares of the company’s stock, valued at $1,883,884,291.75. The trade was a 7.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,612,366 shares of company stock valued at $1,867,342,292 over the last ninety days. Corporate insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Several large investors have recently made changes to their positions in the business. Brookstone Capital Management grew its holdings in Palantir Technologies by 34.7% during the 2nd quarter. Brookstone Capital Management now owns 31,975 shares of the company’s stock worth $810,000 after acquiring an additional 8,243 shares during the last quarter. Gradient Investments LLC increased its holdings in shares of Palantir Technologies by 21.4% in the second quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock valued at $58,000 after purchasing an additional 406 shares in the last quarter. Raymond James & Associates raised its position in Palantir Technologies by 25.8% in the 2nd quarter. Raymond James & Associates now owns 1,939,208 shares of the company’s stock worth $49,120,000 after purchasing an additional 397,896 shares during the last quarter. MONECO Advisors LLC bought a new position in Palantir Technologies in the 2nd quarter worth approximately $213,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Palantir Technologies by 7.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,417,254 shares of the company’s stock worth $35,899,000 after buying an additional 92,653 shares in the last quarter. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Down 1.8 %

Shares of Palantir Technologies stock opened at $74.39 on Wednesday. The stock has a market capitalization of $169.46 billion, a P/E ratio of 371.95, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87. Palantir Technologies has a 12-month low of $15.66 and a 12-month high of $80.91. The company has a 50-day simple moving average of $57.14 and a 200 day simple moving average of $39.39.

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

Analyst Ratings Changes

Several research analysts have commented on the company. Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. DA Davidson upped their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Northland Capmk upgraded shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Wedbush upped their price objective on shares of Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Finally, Robert W. Baird started coverage on Palantir Technologies in a research report on Thursday, December 12th. They set a “neutral” rating and a $70.00 target price on the stock. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $38.40.

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.