Palantir Technologies (NYSE:PLTR) Shares Up 0.1% After Analyst Upgrade

Palantir Technologies Inc. (NYSE:PLTR)’s share price rose 0.1% during trading on Thursday after Wedbush raised their price target on the stock from $38.00 to $45.00. Wedbush currently has an outperform rating on the stock. Palantir Technologies traded as high as $37.29 and last traded at $37.15. Approximately 18,159,059 shares changed hands during trading, a decline of 68% from the average daily volume of 57,361,887 shares. The stock had previously closed at $37.12.

Several other equities analysts have also issued reports on PLTR. Monness Crespi & Hardt cut their target price on Palantir Technologies from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Tuesday, August 6th. DA Davidson lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Jefferies Financial Group lifted their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Argus began coverage on Palantir Technologies in a report on Monday, June 17th. They set a “buy” rating and a $29.00 target price for the company. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 target price on shares of Palantir Technologies in a report on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $27.29.

Insider Buying and Selling at Palantir Technologies

In other news, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Eric H. Woersching sold 3,026 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $28.00, for a total transaction of $84,728.00. Following the completion of the transaction, the director now directly owns 29,817 shares of the company’s stock, valued at approximately $834,876. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter Thiel sold 4,254,666 shares of the business’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 owns 51,234,275 shares of the company’s stock, valued at $1,883,884,291.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,644,559 shares of company stock valued at $346,929,762. 12.93% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently made changes to their positions in PLTR. Evolution Wealth Advisors LLC grew its holdings in Palantir Technologies by 0.5% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 73,144 shares of the company’s stock valued at $1,853,000 after buying an additional 360 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Palantir Technologies by 2.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 15,235 shares of the company’s stock valued at $386,000 after buying an additional 379 shares in the last quarter. Gradient Investments LLC grew its holdings in Palantir Technologies by 21.4% in the 2nd quarter. Gradient Investments LLC now owns 2,306 shares of the company’s stock valued at $58,000 after buying an additional 406 shares in the last quarter. Apella Capital LLC grew its holdings in Palantir Technologies by 3.7% in the 2nd quarter. Apella Capital LLC now owns 11,791 shares of the company’s stock valued at $323,000 after buying an additional 416 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in Palantir Technologies by 1.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 36,177 shares of the company’s stock valued at $916,000 after buying an additional 416 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Trading Down 0.6 %

The company has a fifty day simple moving average of $31.43 and a 200-day simple moving average of $26.31. The company has a market capitalization of $82.08 billion, a PE ratio of 307.17 and a beta of 2.72.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million during the quarter, compared to analyst estimates of $653.23 million. During the same period last year, the company earned $0.01 EPS. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

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.