Palantir Technologies (NYSE:PLTR) Shares Up 3.9%

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) shares traded up 3.9% during mid-day trading on Tuesday . The stock traded as high as $22.06 and last traded at $21.79. 15,849,127 shares traded hands during trading, a decline of 75% from the average session volume of 63,628,273 shares. The stock had previously closed at $20.97.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. HSBC lowered shares of Palantir Technologies from a "buy" rating to a "hold" rating and set a $22.00 price target for the company. in a research report on Wednesday, February 14th. Jefferies Financial Group upgraded Palantir Technologies from an "underperform" rating to a "hold" rating and lifted their target price for the stock from $13.00 to $22.00 in a research report on Tuesday, February 6th. Wedbush restated an "outperform" rating and set a $35.00 price target (up previously from $30.00) on shares of Palantir Technologies in a research note on Friday, March 8th. Citigroup upgraded Palantir Technologies from a "sell" rating to a "neutral" rating and raised their price target for the company from $10.00 to $20.00 in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada reiterated an "underperform" rating and issued a $5.00 target price on shares of Palantir Technologies in a research note on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $18.35.

Palantir Technologies Price Performance

The firm has a market cap of $47.87 billion, a PE ratio of 240.42, a P/E/G ratio of 5.02 and a beta of 2.78. The stock has a 50-day moving average price of $23.64 and a 200 day moving average price of $19.99.

Palantir Technologies (NYSE:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The business 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%. As a group, equities research analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total value of $2,640,000.00. Following the transaction, the insider now owns 181,460 shares in the company, valued at $3,992,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Shyam Sankar sold 29,168 shares of the business's stock in a transaction dated Monday, February 12th. The shares were 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 owns 752,786 shares of the company's stock, valued at approximately $18,819,650. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ryan D. Taylor sold 120,000 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $22.00, for a total value of $2,640,000.00. Following the completion of the transaction, the insider now owns 181,460 shares of the company's stock, valued at $3,992,120. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors have recently modified their holdings of PLTR. Vanguard Group Inc. increased its position in Palantir Technologies by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 193,805,263 shares of the company's stock valued at $3,327,636,000 after acquiring an additional 6,466,596 shares during the period. Morgan Stanley grew its stake in shares of Palantir Technologies by 26.1% in the third quarter. Morgan Stanley now owns 22,614,555 shares of the company's stock worth $361,833,000 after purchasing an additional 4,675,824 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Palantir Technologies by 15.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company's stock valued at $335,284,000 after purchasing an additional 1,980,495 shares during the period. Northern Trust Corp raised its stake in shares of Palantir Technologies by 5.5% during the third quarter. Northern Trust Corp now owns 11,498,685 shares of the company's stock valued at $183,979,000 after purchasing an additional 601,012 shares in the last quarter. Finally, ARK Investment Management LLC lifted its holdings in Palantir Technologies by 16.1% in the fourth quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company's stock worth $187,803,000 after purchasing an additional 1,514,232 shares during the period. Institutional investors own 45.65% of the company's stock.

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.