Palantir Technologies (NASDAQ:PLTR) Trading 3.4% Higher on Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) shot up 3.4% on Wednesday after Loop Capital raised their price target on the stock from $130.00 to $155.00. Loop Capital currently has a buy rating on the stock. Palantir Technologies traded as high as $139.20 and last traded at $137.32. 41,001,441 shares were traded during trading, a decline of 49% from the average session volume of 80,052,358 shares. The stock had previously closed at $132.81.

A number of other equities research analysts have also recently weighed in on PLTR. Morgan Stanley upped their price objective on Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald upped their price objective on Palantir Technologies from $98.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. UBS Group increased their price target on Palantir Technologies from $105.00 to $110.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Finally, Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $86.30.

Insider Buying and Selling

In other Palantir Technologies news, insider Stephen Andrew Cohen sold 310,000 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $87.07, for a total value of $26,991,700.00. Following the completion of the sale, the insider now directly owns 592 shares of the company's stock, valued at $51,545.44. This trade represents a 99.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander C. Karp sold 358,982 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total value of $45,371,734.98. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company's stock, valued at $812,973,088.62. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,816,925 shares of company stock worth $215,448,358. 9.23% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sage Advisors LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $369,000. MGB Wealth Management LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $278,000. Asset Planning Inc acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $101,000. WealthPlan Investment Management LLC increased its stake in shares of Palantir Technologies by 145.2% in the 4th quarter. WealthPlan Investment Management LLC now owns 35,805 shares of the company's stock worth $2,708,000 after acquiring an additional 21,204 shares during the last quarter. Finally, Pitcairn Co. acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $281,000. 45.65% of the stock is owned by institutional investors and hedge funds.

Palantir Technologies Stock Performance

The business has a 50 day simple moving average of $115.48 and a 200-day simple moving average of $94.61. The firm has a market capitalization of $324.25 billion, a price-to-earnings ratio of 723.20, a P/E/G ratio of 10.84 and a beta of 2.64.

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

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.