Palantir Technologies (NYSE:PLTR) Trading 1.9% Higher

Shares of Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) were up 1.9% during trading on Monday . The company traded as high as $21.19 and last traded at $20.99. Approximately 16,866,690 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 62,990,527 shares. The stock had previously closed at $20.60.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Palantir Technologies from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, May 7th. Raymond James lifted their price objective on Palantir Technologies from $22.00 to $25.00 and gave the stock an "outperform" rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft increased their target price on Palantir Technologies from $18.00 to $20.00 and gave the company a "sell" rating in a report on Tuesday, May 7th. Royal Bank of Canada increased their price objective on shares of Palantir Technologies from $5.00 to $9.00 and gave the stock an "underperform" rating in a research note on Tuesday, May 7th. Finally, Wedbush restated an "outperform" rating and set a $35.00 target price on shares of Palantir Technologies in a research report on Monday, May 6th. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palantir Technologies currently has an average rating of "Hold" and a consensus target price of $20.65.

Palantir Technologies Stock Up 1.6 %

The company has a market cap of $46.32 billion, a PE ratio of 174.01, a price-to-earnings-growth ratio of 4.71 and a beta of 2.76. The firm has a 50 day simple moving average of $23.11 and a 200-day simple moving average of $20.45.

Insider Buying and Selling

In other news, insider Shyam Sankar sold 50,000 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $23.57, for a total transaction of $1,178,500.00. Following the sale, the insider now owns 752,786 shares in the company, valued at $17,743,166.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Heather A. Planishek sold 8,521 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $23.27, for a total value of $198,283.67. Following the transaction, the insider now directly owns 703,485 shares of the company's stock, valued at $16,370,095.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shyam Sankar sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $23.57, for a total transaction of $1,178,500.00. Following the completion of the transaction, the insider now owns 752,786 shares in the company, valued at approximately $17,743,166.02. The disclosure for this sale can be found here. Insiders sold a total of 18,457,938 shares of company stock worth $415,665,719 in the last 90 days. 13.96% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC raised its position in shares of Palantir Technologies by 74.9% in the third quarter. Truvestments Capital LLC now owns 1,635 shares of the company's stock worth $26,000 after acquiring an additional 700 shares during the period. First United Bank & Trust acquired a new position in Palantir Technologies in the 4th quarter worth about $26,000. Pacifica Partners Inc. acquired a new stake in Palantir Technologies in the fourth quarter valued at approximately $27,000. West Paces Advisors Inc. increased its position in shares of Palantir Technologies by 110.7% in the first quarter. West Paces Advisors Inc. now owns 1,180 shares of the company's stock valued at $27,000 after buying an additional 620 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Palantir Technologies by 105.3% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,347 shares of the company's stock worth $31,000 after buying an additional 691 shares during the period. Institutional investors and hedge funds 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.

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