Palantir Technologies (NYSE:PLTR) Trading 1.3% Higher – What’s Next?

Shares of Palantir Technologies Inc. (NYSE:PLTR) were up 1.3% during trading on Friday . The stock traded as high as $63.04 and last traded at $62.13. Approximately 15,688,534 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 58,617,684 shares. The stock had previously closed at $61.36.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the company a “sell” rating in a report on Tuesday, August 6th. Citigroup increased their price target on Palantir Technologies from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Royal Bank of Canada reissued an “underperform” rating and issued a $9.00 price objective on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Northland Securities lifted their target price on Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $31.71.

Palantir Technologies Stock Performance

The stock’s 50 day simple moving average is $45.94 and its 200 day simple moving average is $33.39. The firm has a market cap of $146.59 billion, a P/E ratio of 321.77 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last posted its earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, analysts forecast that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, insider Heather A. Planishek sold 14,016 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $30.67, for a total value of $429,870.72. Following the completion of the sale, the insider now directly owns 576,023 shares of the company’s stock, valued at approximately $17,666,625.41. This represents a 2.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 6,000 shares of Palantir Technologies stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.35, for a total transaction of $218,100.00. Following the transaction, the director now directly owns 152,280 shares in the company, valued at approximately $5,535,378. This represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,167,451 shares of company stock valued at $1,603,067,889 over the last ninety days. 12.93% of the stock is currently owned by insiders.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. bought a new position in Palantir Technologies during the second quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new stake in Palantir Technologies during the third quarter worth about $25,000. Prestige Wealth Management Group LLC raised its position in Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after acquiring an additional 650 shares during the period. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Palantir Technologies in the second quarter valued at about $30,000. 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.