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

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price rose 0.9% during mid-day trading on Thursday after Wedbush raised their price target on the stock from $75.00 to $90.00. Wedbush currently has an outperform rating on the stock. Palantir Technologies traded as high as $78.53 and last traded at $77.53. Approximately 24,256,373 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 67,594,070 shares. The stock had previously closed at $76.87.

Several other equities research analysts also recently weighed in on PLTR. Northland Securities boosted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Bank of America boosted their price objective on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. UBS Group started coverage on Palantir Technologies in a research note on Thursday, December 19th. They set a “neutral” rating and a $80.00 price objective on the stock. The Goldman Sachs Group lifted their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, William Blair restated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $44.61.

Insider Transactions at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the transaction, the director now owns 130,250 shares in the company, valued at $6,576,322.50. This represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now owns 6,432,258 shares in the company, valued at $289,580,255.16. This trade represents a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,518,855 shares of company stock worth $1,438,682,423. Company insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of PLTR. Dimensional Fund Advisors LP lifted its holdings in Palantir Technologies by 10.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,880,610 shares of the company’s stock valued at $72,963,000 after acquiring an additional 278,544 shares during the last quarter. XTX Topco Ltd acquired a new position in Palantir Technologies in the second quarter worth approximately $330,000. Thrivent Financial for Lutherans lifted its position in shares of Palantir Technologies by 20.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 52,732 shares of the company’s stock valued at $1,336,000 after acquiring an additional 9,109 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Palantir Technologies by 14.9% during the 2nd quarter. ProShare Advisors LLC now owns 13,100 shares of the company’s stock worth $332,000 after acquiring an additional 1,702 shares in the last quarter. Finally, Fred Alger Management LLC raised its position in shares of Palantir Technologies by 95.6% during the second quarter. Fred Alger Management LLC now owns 120,153 shares of the company’s stock worth $3,043,000 after purchasing an additional 58,724 shares during the period. Institutional investors own 45.65% of the company’s stock.

Palantir Technologies Stock Performance

The stock has a 50-day moving average of $71.70 and a two-hundred day moving average of $48.53. The firm has a market cap of $179.92 billion, a price-to-earnings ratio of 394.92, a price-to-earnings-growth ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share 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 business had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period last year, the firm posted $0.03 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. Sell-side analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal 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.