Palantir Technologies (NASDAQ:PLTR) Shares Up 0.9% Following Analyst Upgrade

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) shot up 0.9% on Wednesday after Citigroup raised their price target on the stock from $110.00 to $115.00. Citigroup currently has a neutral rating on the stock. Palantir Technologies traded as high as $111.85 and last traded at $109.86. 41,895,869 shares were traded during mid-day trading, a decline of 45% from the average session volume of 75,677,350 shares. The stock had previously closed at $108.86.

PLTR has been the subject of several other reports. Wedbush set a $140.00 price objective on Palantir Technologies and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group increased their price target on Palantir Technologies from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird upped their price objective on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. The Goldman Sachs Group raised their target price on shares of Palantir Technologies from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Jefferies Financial Group upped their price target on shares of Palantir Technologies from $28.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $83.95.

Insider Buying and Selling at Palantir Technologies

In related news, insider Heather A. Planishek sold 13,891 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now directly owns 512,006 shares of the company’s stock, valued at approximately $59,372,215.76. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.75, for a total transaction of $103,437,500.00. Following the completion of the transaction, the insider now owns 592 shares in the company, valued at approximately $48,988. This represents a 99.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,978,181 shares of company stock valued at $252,115,667. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently modified their holdings of PLTR. Mechanics Financial Corp bought a new stake in Palantir Technologies in the first quarter worth approximately $25,000. Roxbury Financial LLC acquired a new position in Palantir Technologies during the fourth quarter worth $27,000. First PREMIER Bank bought a new position in Palantir Technologies during the fourth quarter valued at about $28,000. Wolff Wiese Magana LLC lifted its position in shares of Palantir Technologies by 230.4% in the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock worth $29,000 after buying an additional 265 shares during the last quarter. Finally, HighMark Wealth Management LLC boosted its stake in shares of Palantir Technologies by 73.5% during the 4th quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Stock Performance

The stock has a 50 day moving average of $93.57 and a two-hundred day moving average of $81.48. The firm has a market capitalization of $279.85 billion, a P/E ratio of 628.04, a P/E/G ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a net margin of 16.13% and a return on equity of 6.85%. The business had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same period in the previous year, the company earned $0.08 earnings per share. Palantir Technologies’s revenue for the quarter was up 39.4% on a year-over-year basis. Sell-side analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Palantir Technologies Company Profile

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.