Palantir Technologies (NYSE:PLTR) Trading Up 5.9%

Palantir Technologies Inc. (NYSE:PLTR) rose 5.9% on Monday . The company traded as high as $25.08 and last traded at $24.71. Approximately 49,742,364 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 61,018,949 shares. The stock had previously closed at $23.33.

Analyst Upgrades and Downgrades

Several brokerages have commented on PLTR. Monness Crespi & Hardt raised Palantir Technologies from a “sell” rating to a “neutral” rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palantir Technologies from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Tuesday. Mizuho upped their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a report on Tuesday. Finally, Bank of America increased their target price on Palantir Technologies from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.65.

Palantir Technologies Stock Performance

The company has a 50 day moving average price of $23.34 and a 200 day moving average price of $20.35. The firm has a market cap of $47.71 billion, a price-to-earnings ratio of 237.92, a price-to-earnings-growth ratio of 5.72 and a beta of 2.76.

Palantir Technologies (NYSE:PLTR) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $608.35 million during the quarter, compared to analysts’ expectations of $603.48 million. Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. On average, research analysts forecast that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Buying and Selling at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of Palantir Technologies stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.00, for a total transaction of $729,200.00. Following the completion of the sale, the insider now directly owns 752,786 shares of the company’s stock, valued at approximately $18,819,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Palantir Technologies news, insider Shyam Sankar sold 29,168 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $25.00, for a total value of $729,200.00. Following the completion of the sale, the insider now owns 752,786 shares in the company, valued at $18,819,650. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alexander D. Moore sold 20,000 shares of Palantir Technologies stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares in the company, valued at $35,133,328.38. The disclosure for this sale can be found here. Insiders have sold 7,356,273 shares of company stock valued at $182,143,602 in the last quarter. Corporate insiders own 13.96% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

Hedge funds have recently added to or reduced their stakes in the company. Halpern Financial Inc. raised its position in Palantir Technologies by 44.0% during the first quarter. Halpern Financial Inc. now owns 1,440 shares of the company’s stock worth $33,000 after acquiring an additional 440 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Palantir Technologies by 16.9% in the first quarter. Harbor Investment Advisory LLC now owns 3,208 shares of the company’s stock worth $74,000 after acquiring an additional 463 shares during the last quarter. Principle Wealth Partners LLC lifted its position in shares of Palantir Technologies by 4.8% in the first quarter. Principle Wealth Partners LLC now owns 10,481 shares of the company’s stock valued at $241,000 after acquiring an additional 481 shares in the last quarter. GSB Wealth Management LLC boosted its stake in shares of Palantir Technologies by 4.6% during the first quarter. GSB Wealth Management LLC now owns 13,475 shares of the company’s stock valued at $310,000 after acquiring an additional 595 shares during the last quarter. Finally, Fiduciary Alliance LLC increased its position in Palantir Technologies by 1.0% during the 4th quarter. Fiduciary Alliance LLC now owns 60,776 shares of the company’s stock worth $1,044,000 after purchasing an additional 618 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company’s stock.

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.