Palantir Technologies (NASDAQ:PLTR) Upgraded at Mizuho

Palantir Technologies (NASDAQ:PLTR - Get Free Report) was upgraded by analysts at Mizuho from an "underperform" rating to a "neutral" rating in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a $135.00 price target on the stock, up from their prior price target of $116.00. Mizuho's target price points to a potential downside of 12.33% from the stock's current price.

A number of other research firms have also issued reports on PLTR. DA Davidson increased their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Cantor Fitzgerald increased their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research report on Tuesday, April 1st. Royal Bank Of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday, May 6th. Finally, Loop Capital set a $155.00 target price on shares of Palantir Technologies and gave the stock a "buy" rating in a research report on Thursday, June 12th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $91.37.

Palantir Technologies Stock Performance

Shares of NASDAQ:PLTR traded up $3.08 during trading hours on Wednesday, hitting $153.99. 59,788,537 shares of the company's stock traded hands, compared to its average volume of 96,085,023. Palantir Technologies has a 52 week low of $21.23 and a 52 week high of $155.68. The company has a market cap of $363.40 billion, a price-to-earnings ratio of 669.52, a price-to-earnings-growth ratio of 12.68 and a beta of 2.59. The company's fifty day simple moving average is $132.92 and its two-hundred day simple moving average is $105.08.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. Palantir Technologies had a net margin of 18.32% and a return on equity of 6.55%. The company had revenue of $883.86 million during the quarter, compared to analyst estimates of $863.89 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The business's quarterly revenue was up 39.4% on a year-over-year basis. On average, analysts anticipate that Palantir Technologies will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Ryan D. Taylor sold 33,335 shares of Palantir Technologies stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $135.31, for a total transaction of $4,510,558.85. Following the sale, the insider directly owned 363,755 shares in the company, valued at approximately $49,219,689.05. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $139.61, for a total value of $111,688.00. Following the sale, the director owned 62,887 shares in the company, valued at $8,779,654.07. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,452,297 shares of company stock valued at $186,222,373 in the last ninety days. 9.23% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC bought a new position in shares of Palantir Technologies during the 2nd quarter valued at about $2,543,888,000. Norges Bank purchased a new position in shares of Palantir Technologies in the 4th quarter valued at approximately $1,360,191,000. Nuveen LLC purchased a new position in Palantir Technologies during the first quarter valued at $520,232,000. Price T Rowe Associates Inc. MD raised its stake in shares of Palantir Technologies by 55.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after purchasing an additional 4,748,513 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Palantir Technologies by 38.5% in the first quarter. Goldman Sachs Group Inc. now owns 15,180,154 shares of the company's stock worth $1,281,205,000 after acquiring an additional 4,221,392 shares during the period. 45.65% of the stock is currently owned by institutional investors.

About Palantir Technologies

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.