Palantir Technologies (NYSE:PLTR) Trading Up 0.9% on Analyst Upgrade

Palantir Technologies Inc. (NYSE:PLTR) traded up 0.9% on Tuesday after Wedbush raised their price target on the stock from $57.00 to $75.00. Wedbush currently has an outperform rating on the stock. Palantir Technologies traded as high as $65.82 and last traded at $64.94. 17,375,614 shares were traded during trading, a decline of 70% from the average session volume of 58,723,785 shares. The stock had previously closed at $64.35.

Other analysts also recently issued reports about the company. Northland Securities increased their price objective on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Northland Capmk raised shares of Palantir Technologies to a “hold” rating in a research report on Thursday, August 22nd. Argus cut shares of Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.64.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 9,746 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was 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 directly owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This trade represents a 8.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 155,539 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $35.02, for a total value of $5,446,975.78. Following the sale, the insider now owns 331,369 shares in the company, valued at approximately $11,604,542.38. The trade was a 31.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,163,181 shares of company stock valued at $1,603,288,758. 12.93% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its stake in Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Palantir Technologies in the 2nd quarter worth about $25,000. Farmers & Merchants Investments Inc. bought a new position in shares of Palantir Technologies during the 2nd quarter valued at about $25,000. Finally, Creekmur Asset Management LLC raised its holdings in shares of Palantir Technologies by 46.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company’s stock valued at $40,000 after buying an additional 335 shares in the last quarter. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Price Performance

The company has a 50 day simple moving average of $47.68 and a 200-day simple moving average of $34.33. The firm has a market cap of $150.46 billion, a PE ratio of 330.27 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last issued its earnings results 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 company had revenue of $725.52 million for the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter last year, the company earned $0.03 EPS. The firm’s revenue was up 30.0% compared to the same quarter last year. On average, sell-side analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Palantir Technologies Company Profile

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.