Palantir Technologies (NYSE:PLTR) Shares Up 1%

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report)'s share price was up 1% during trading on Monday . The company traded as high as $23.09 and last traded at $22.74. Approximately 12,556,001 shares were traded during trading, a decline of 80% from the average daily volume of 62,088,695 shares. The stock had previously closed at $22.52.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PLTR shares. Raymond James increased their price objective on Palantir Technologies from $22.00 to $25.00 and gave the company an "outperform" rating in a report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $5.00 target price on shares of Palantir Technologies in a report on Tuesday, February 6th. Jefferies Financial Group upgraded shares of Palantir Technologies from an "underperform" rating to a "hold" rating and raised their target price for the company from $13.00 to $22.00 in a research note on Tuesday, February 6th. Bank of America boosted their price target on Palantir Technologies from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Finally, Mizuho upped their price target on shares of Palantir Technologies from $18.00 to $21.00 and gave the company a "neutral" rating in a research note on Thursday, March 7th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $18.35.

Palantir Technologies Price Performance

The firm has a market cap of $50.49 billion, a price-to-earnings ratio of 253.58, a P/E/G ratio of 5.52 and a beta of 2.78. The stock has a 50-day moving average of $23.42 and a 200-day moving average of $20.11.

Palantir Technologies (NYSE:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The company had revenue of $608.35 million during the quarter, compared to the consensus estimate of $603.48 million. Palantir Technologies had a return on equity of 6.17% and a net margin of 9.43%. On average, equities analysts expect that Palantir Technologies Inc. will post 0.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the transaction, the director now owns 186,783 shares in the company, valued at approximately $4,247,445.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Palantir Technologies news, Director Alexandra W. Schiff sold 5,000 shares of the business's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $22.74, for a total transaction of $113,700.00. Following the completion of the sale, the director now owns 186,783 shares in the company, valued at approximately $4,247,445.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ryan D. Taylor sold 120,000 shares of the company's 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 sale, the insider now owns 181,460 shares of the company's stock, valued at approximately $3,992,120. The disclosure for this sale can be found here. Insiders have sold a total of 7,456,273 shares of company stock worth $184,343,202 in the last ninety days. Company insiders own 13.96% of the company's stock.

Hedge Funds Weigh In On Palantir Technologies

A number of institutional investors have recently made changes to their positions in PLTR. Vanguard Group Inc. grew its holdings in Palantir Technologies by 11.1% in the third quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company's stock worth $2,997,419,000 after purchasing an additional 18,756,392 shares during the period. Morgan Stanley increased its stake in Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company's stock worth $361,833,000 after buying an additional 4,675,824 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd grew its holdings in Palantir Technologies by 314.7% during the 3rd quarter. KEYWISE CAPITAL MANAGEMENT HK Ltd now owns 5,285,700 shares of the company's stock valued at $84,571,000 after buying an additional 4,011,100 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Palantir Technologies in the 3rd quarter valued at $55,719,000. Finally, International Assets Investment Management LLC grew its stake in shares of Palantir Technologies by 1,784.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,895,772 shares of the company's stock worth $49,720,000 after buying an additional 2,742,071 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

About Palantir Technologies

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.