Palantir Technologies (NASDAQ:PLTR) Stock Price Up 6.3% After Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) rose 6.3% on Thursday after Citigroup raised their price target on the stock from $110.00 to $115.00. Citigroup currently has a neutral rating on the stock. Palantir Technologies traded as high as $117.79 and last traded at $117.39. Approximately 47,065,704 shares were traded during trading, a decline of 38% from the average daily volume of 75,441,972 shares. The stock had previously closed at $110.48.

A number of other equities research analysts have also recently weighed in on the stock. Cantor Fitzgerald boosted their price target on shares of Palantir Technologies from $98.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday. Loop Capital upped their target price on shares of Palantir Technologies from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday. Royal Bank of Canada restated an "underperform" rating on shares of Palantir Technologies in a report on Tuesday. Morgan Stanley raised their price target on Palantir Technologies from $90.00 to $98.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Daiwa America raised shares of Palantir Technologies to a "hold" rating in a research note on Tuesday, April 1st. Five 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 stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average target price of $83.95.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 800 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total transaction of $65,000.00. Following the completion of the sale, the director now directly owns 61,339 shares of the company's stock, valued at $4,983,793.75. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ryan D. Taylor sold 98,177 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $82.80, for a total value of $8,129,055.60. Following the sale, the insider now directly owns 403,171 shares of the company's stock, valued at approximately $33,382,558.80. This represents a 19.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,978,181 shares of company stock worth $252,115,667. 12.93% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently modified their holdings of PLTR. Mather Group LLC. lifted its position in shares of Palantir Technologies by 101.4% in the fourth quarter. Mather Group LLC. now owns 890 shares of the company's stock worth $67,000 after purchasing an additional 448 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the 4th quarter valued at $876,000. Destiny Wealth Partners LLC purchased a new position in shares of Palantir Technologies during the 4th quarter valued at $3,233,000. Kieckhefer Group LLC acquired a new position in shares of Palantir Technologies in the fourth quarter worth $11,769,000. Finally, Grange Capital LLC purchased a new stake in shares of Palantir Technologies during the fourth quarter worth $5,829,000. Hedge funds and other institutional investors own 45.65% of the company's stock.

Palantir Technologies Stock Up 8.0 %

The business has a 50-day moving average of $92.85 and a 200-day moving average of $80.95. The stock has a market cap of $279.85 billion, a price-to-earnings ratio of 628.04, a PEG ratio of 10.84 and a beta of 2.68.

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

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.

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