Palantir Technologies (NYSE:PLTR) Shares Up 0.1%

Shares of Palantir Technologies Inc. (NYSE:PLTR) rose 0.1% on Thursday . The company traded as high as $21.37 and last traded at $21.33. Approximately 14,464,690 shares were traded during trading, a decline of 78% from the average daily volume of 64,760,664 shares. The stock had previously closed at $21.31.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PLTR. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a research note on Wednesday, February 14th. Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price objective for the company. in a research note on Thursday, March 28th. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $13.00 to $22.00 in a research note on Tuesday, February 6th. Wedbush reaffirmed an “outperform” rating and set a $35.00 price objective (up from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $5.00 price objective on shares of Palantir Technologies in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Price Performance

The stock has a market capitalization of $46.62 billion, a price-to-earnings ratio of 236.47, a PEG ratio of 5.37 and a beta of 2.78. The business has a 50 day simple moving average of $23.91 and a 200-day simple moving average of $19.81.

Palantir Technologies (NYSE:PLTR) last posted 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 during the quarter, compared to analyst estimates of $603.48 million. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In other news, insider Ryan D. Taylor sold 150,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at $4,355,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ryan D. Taylor sold 150,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares of the company’s stock, valued at $4,355,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 5,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $25.10, for a total value of $125,500.00. Following the transaction, the director now directly owns 181,830 shares of the company’s stock, valued at $4,563,933. The disclosure for this sale can be found here. Insiders sold 7,456,273 shares of company stock valued at $184,343,202 over the last three months. Company insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Qsemble Capital Management LP bought a new stake in Palantir Technologies during the third quarter worth about $1,178,000. Trexquant Investment LP bought a new stake in Palantir Technologies during the third quarter worth about $4,446,000. Victory Capital Management Inc. raised its holdings in Palantir Technologies by 3.9% during the third quarter. Victory Capital Management Inc. now owns 684,953 shares of the company’s stock worth $10,959,000 after acquiring an additional 25,787 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Palantir Technologies by 10.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,196,790 shares of the company’s stock worth $20,549,000 after acquiring an additional 116,220 shares in the last quarter. Finally, Korea Investment CORP raised its holdings in Palantir Technologies by 148.4% during the third quarter. Korea Investment CORP now owns 193,957 shares of the company’s stock worth $3,103,000 after acquiring an additional 115,876 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.