Palantir Technologies (NYSE:PLTR) Stock Price Up 0% – Here’s What Happened

Palantir Technologies Inc. (NYSE:PLTR) shares rose 0% during mid-day trading on Friday . The stock traded as high as $44.38 and last traded at $43.53. Approximately 24,910,396 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 57,191,227 shares. The stock had previously closed at $43.52.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PLTR shares. Argus started coverage on shares of Palantir Technologies in a research note on Monday, June 17th. They set a “buy” rating and a $29.00 price objective on the stock. Bank of America lifted their price target on Palantir Technologies from $30.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Jefferies Financial Group upped their price objective on Palantir Technologies from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Raymond James downgraded Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Citigroup boosted their price target on Palantir Technologies from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $27.29.

Palantir Technologies Stock Performance

The stock has a market capitalization of $97.44 billion, a price-to-earnings ratio of 255.96 and a beta of 2.72. The business’s 50 day simple moving average is $34.08 and its 200-day simple moving average is $27.42.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a return on equity of 8.88% and a net margin of 16.32%. The business had revenue of $678.13 million for the quarter, compared to analyst estimates of $653.23 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The business’s quarterly revenue was up 27.2% on a year-over-year basis. As a group, sell-side analysts expect that Palantir Technologies Inc. will post 0.19 EPS for the current year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the transaction, the insider now owns 562,006 shares of the company’s stock, valued at approximately $22,452,139.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palantir Technologies news, insider Heather A. Planishek sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $39.95, for a total value of $799,000.00. Following the completion of the sale, the insider now directly owns 562,006 shares in the company, valued at $22,452,139.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.07, for a total value of $162,315,000.00. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $232,011,546.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,831,855 shares of company stock valued at $649,330,295. 12.93% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company’s stock worth $3,327,636,000 after purchasing an additional 6,466,596 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Palantir Technologies by 248,208.2% during the 1st quarter. 1832 Asset Management L.P. now owns 3,625,300 shares of the company’s stock valued at $83,418,000 after acquiring an additional 3,623,840 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Palantir Technologies by 594.3% during the 2nd quarter. Marshall Wace LLP now owns 3,550,176 shares of the company’s stock worth $89,926,000 after acquiring an additional 3,038,861 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Palantir Technologies by 15.7% in 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. Finally, National Bank of Canada FI raised its position in shares of Palantir Technologies by 2,722.2% during the second quarter. National Bank of Canada FI now owns 1,716,830 shares of the company’s stock worth $44,427,000 after purchasing an additional 1,655,997 shares during the period. 45.65% of the stock is currently owned by 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.