Palantir Technologies (NASDAQ:PLTR) Stock Price Up 3.7% - Here's What Happened

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s share price rose 3.7% during trading on Thursday . The stock traded as high as $124.99 and last traded at $125.05. Approximately 30,115,980 shares traded hands during trading, a decline of 61% from the average daily volume of 77,156,046 shares. The stock had previously closed at $120.58.

Analyst Upgrades and Downgrades

PLTR has been the subject of several research analyst reports. Mizuho increased their target price on Palantir Technologies from $80.00 to $94.00 and gave the company an "underperform" rating in a research note on Tuesday, May 6th. Robert W. Baird upped their price target on Palantir Technologies from $70.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Loop Capital upped their price target on Palantir Technologies from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Daiwa Capital Markets started coverage on Palantir Technologies in a research report on Tuesday, April 1st. They set a "neutral" rating and a $90.00 price target on the stock. Finally, Wedbush set a $140.00 price target on Palantir Technologies and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $83.95.

Palantir Technologies Price Performance

The company has a 50-day simple moving average of $101.18 and a two-hundred day simple moving average of $86.53. The stock has a market capitalization of $293.44 billion, a price-to-earnings ratio of 658.47, a price-to-earnings-growth ratio of 10.84 and a beta of 2.68.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The company had revenue of $883.86 million for the quarter, compared to analyst estimates of $863.89 million. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company's quarterly revenue was up 39.4% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity

In related news, insider Shyam Sankar sold 30,000 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.43, for a total transaction of $2,772,900.00. Following the completion of the transaction, the insider now owns 702,786 shares of the company's stock, valued at $64,958,509.98. This trade represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather A. Planishek bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average cost of $116.14 per share, with a total value of $1,161,400.00. Following the purchase, the insider now directly owns 58,006 shares of the company's stock, valued at approximately $6,736,816.84. This represents a 20.83% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 2,945,753 shares of company stock valued at $248,608,160. Company insiders own 9.23% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PLTR. Allegiance Financial Group Advisory Services LLC boosted its position in shares of Palantir Technologies by 3.0% in the 1st quarter. Allegiance Financial Group Advisory Services LLC now owns 2,917 shares of the company's stock valued at $246,000 after purchasing an additional 84 shares during the period. Delta Investment Management LLC boosted its position in shares of Palantir Technologies by 1.9% in the 1st quarter. Delta Investment Management LLC now owns 4,716 shares of the company's stock valued at $398,000 after purchasing an additional 90 shares during the period. Sovran Advisors LLC boosted its position in shares of Palantir Technologies by 1.8% in the 1st quarter. Sovran Advisors LLC now owns 5,453 shares of the company's stock valued at $460,000 after purchasing an additional 94 shares during the period. Lodestone Wealth Management LLC boosted its position in shares of Palantir Technologies by 1.1% in the 1st quarter. Lodestone Wealth Management LLC now owns 8,950 shares of the company's stock valued at $755,000 after purchasing an additional 97 shares during the period. Finally, Continuum Advisory LLC boosted its position in shares of Palantir Technologies by 3.8% in the 4th quarter. Continuum Advisory LLC now owns 2,670 shares of the company's stock valued at $202,000 after purchasing an additional 98 shares during the period. Institutional investors own 45.65% of the company's stock.

Palantir Technologies Company Profile

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.

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