Palantir Technologies (NASDAQ:PLTR) Trading Up 2.3% After Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR) shares were up 2.3% during mid-day trading on Friday after Loop Capital raised their price target on the stock from $130.00 to $155.00. Loop Capital currently has a buy rating on the stock. Palantir Technologies traded as high as $138.49 and last traded at $138.25. Approximately 34,368,438 shares were traded during trading, a decline of 57% from the average daily volume of 80,373,479 shares. The stock had previously closed at $135.19.

Several other analysts have also issued reports on the company. Royal Bank of Canada reissued an “underperform” rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Morgan Stanley raised their price objective on Palantir Technologies from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 6th. Wedbush set a $140.00 price objective on Palantir Technologies and gave the company an “outperform” rating in a research note on Tuesday, May 6th. DA Davidson raised their price objective on Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, May 6th. Finally, William Blair set a $84.00 price objective on Palantir Technologies in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.30.

Insider Activity

In other news, insider Shyam Sankar sold 405,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $132.08, for a total transaction of $53,492,400.00. Following the completion of the sale, the insider now owns 702,786 shares in the company, valued at $92,823,974.88. The trade was a 36.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen Andrew Cohen sold 310,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $87.07, for a total value of $26,991,700.00. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $51,545.44. This represents a 99.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,816,925 shares of company stock worth $215,448,358 over the last quarter. 9.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PLTR. Mechanics Financial Corp purchased a new position in shares of Palantir Technologies during the first quarter valued at approximately $25,000. Roxbury Financial LLC purchased a new position in shares of Palantir Technologies during the fourth quarter valued at approximately $27,000. Wealth Preservation Advisors LLC purchased a new position in shares of Palantir Technologies during the first quarter valued at approximately $27,000. 1248 Management LLC purchased a new position in shares of Palantir Technologies during the first quarter valued at approximately $27,000. Finally, HighMark Wealth Management LLC boosted its position in shares of Palantir Technologies by 73.5% during the fourth quarter. HighMark Wealth Management LLC now owns 392 shares of the company’s stock valued at $30,000 after buying an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Up 1.6%

The company has a market cap of $324.25 billion, a PE ratio of 723.20, a PEG ratio of 10.84 and a beta of 2.64. The company has a 50-day moving average of $115.48 and a 200-day moving average of $94.81.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The business had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The business’s revenue was up 39.4% on a year-over-year basis. As a group, equities 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.