Palantir Technologies (NYSE:PLTR) Shares Up 0.1%

Palantir Technologies Inc. (NYSE:PLTR)’s share price traded up 0.1% during mid-day trading on Thursday . The stock traded as high as $26.27 and last traded at $25.85. 18,433,843 shares were traded during trading, a decline of 52% from the average session volume of 38,424,292 shares. The stock had previously closed at $25.83.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PLTR shares. Monness Crespi & Hardt cut Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 price target for the company. in a research note on Friday, June 21st. Citigroup increased their price target on shares of Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Bank of America upped their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Royal Bank of Canada increased their target price on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Palantir Technologies in a research report on Monday, May 6th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.25.

Palantir Technologies Stock Up 0.1 %

The firm has a market cap of $57.57 billion, a P/E ratio of 215.43, a price-to-earnings-growth ratio of 5.96 and a beta of 2.71. The stock’s 50-day moving average is $22.89 and its 200-day moving average is $21.68.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Palantir Technologies had a net margin of 12.79% and a return on equity of 8.28%. The company had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. As a group, analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Activity

In other news, Director Peter Thiel sold 6,285,833 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now owns 64,520,599 shares in the company, valued at approximately $1,376,224,376.67. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Peter Thiel sold 6,285,833 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total transaction of $134,076,817.89. Following the completion of the transaction, the director now owns 64,520,599 shares in the company, valued at approximately $1,376,224,376.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heather A. Planishek sold 10,907 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $21.43, for a total value of $233,737.01. Following the completion of the sale, the insider now directly owns 651,099 shares in the company, valued at approximately $13,953,051.57. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,372,153 shares of company stock worth $239,941,245. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Palantir Technologies by 1.6% during the first quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock worth $4,529,164,000 after buying an additional 3,029,317 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after acquiring an additional 4,675,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Palantir Technologies by 15.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock worth $335,284,000 after acquiring an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC increased its holdings in Palantir Technologies by 16.1% during the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after purchasing an additional 1,514,232 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its holdings in Palantir Technologies by 19.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

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.