Palantir Technologies (NASDAQ:PLTR) Trading Up 25.2% After Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded up 25.2% on Tuesday after DA Davidson raised their price target on the stock from $47.00 to $105.00. DA Davidson currently has a neutral rating on the stock. Palantir Technologies traded as high as $106.91 and last traded at $104.88. 115,890,851 shares changed hands during mid-day trading, an increase of 59% from the average session volume of 72,685,938 shares. The stock had previously closed at $83.74.

A number of other analysts have also issued reports on the company. Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the stock a “market perform” rating in a research note on Tuesday. UBS Group assumed coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 target price on the stock. Wedbush raised their price target on shares of Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Palantir Technologies from $28.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday. Six analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and an average price target of $61.78.

Insider Activity at Palantir Technologies

In other news, insider Alexander C. Karp sold 4,500,000 shares of Palantir Technologies stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $55.03, for a total transaction of $247,635,000.00. Following the sale, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $353,967,157.74. This trade represents a 41.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the transaction, the director now owns 111,644 shares of the company’s stock, valued at $7,454,469.88. The trade was a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,153,753 shares of company stock worth $1,287,042,675 in the last 90 days. 12.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Palantir Technologies by 60.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after acquiring an additional 4,667,955 shares during the period. Diversify Wealth Management LLC bought a new stake in shares of Palantir Technologies in the 4th quarter worth about $876,000. Destiny Wealth Partners LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter worth about $3,233,000. State of Alaska Department of Revenue lifted its holdings in Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock valued at $13,786,000 after purchasing an additional 68,945 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Palantir Technologies by 19.2% in the third quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after acquiring an additional 87,062 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors.

Palantir Technologies Trading Up 25.0 %

The firm has a fifty day moving average price of $74.09 and a 200 day moving average price of $51.39. The firm has a market capitalization of $238.47 billion, a price-to-earnings ratio of 523.80, a P/E/G ratio of 7.54 and a beta of 2.81.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The company’s revenue was up 30.0% on a year-over-year basis. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal year.

About Palantir Technologies

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.