Palantir Technologies (NYSE:PLTR) Shares Gap Up to $23.33

Palantir Technologies Inc. (NYSE:PLTR)’s share price gapped up before the market opened on Monday . The stock had previously closed at $23.33, but opened at $24.37. Palantir Technologies shares last traded at $24.82, with a volume of 34,233,027 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on PLTR. Jefferies Financial Group raised Palantir Technologies from an “underperform” rating to a “hold” rating and raised their price target for the company from $13.00 to $22.00 in a report on Tuesday, February 6th. HSBC cut Palantir Technologies from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a report on Wednesday, February 14th. Mizuho raised their price target on Palantir Technologies from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Wedbush reiterated an “outperform” rating and issued a $35.00 price objective on shares of Palantir Technologies in a research report on Monday. Finally, Raymond James raised their target price on shares of Palantir Technologies from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $18.35.

Palantir Technologies Stock Performance

The firm has a fifty day simple moving average of $23.36 and a 200 day simple moving average of $20.25. The company has a market cap of $55.78 billion, a PE ratio of 274.59, a PEG ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $608.35 million for the quarter, compared to analyst estimates of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 29,168 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Shyam Sankar sold 29,168 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares in the company, valued at approximately $18,819,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the sale, the director now directly owns 1,595,519 shares of the company’s stock, valued at approximately $35,133,328.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,476,273 shares of company stock valued at $184,783,602. Company insiders own 13.96% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truvestments Capital LLC raised its holdings in Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company’s stock valued at $26,000 after acquiring an additional 700 shares in the last quarter. First United Bank & Trust bought a new position in shares of Palantir Technologies during the fourth quarter worth about $26,000. Pacifica Partners Inc. acquired a new position in Palantir Technologies in the fourth quarter worth about $27,000. West Paces Advisors Inc. increased its holdings in Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company’s stock valued at $27,000 after buying an additional 620 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in Palantir Technologies by 105.3% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company’s stock valued at $31,000 after buying an additional 691 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.