Palantir Technologies (NASDAQ:PLTR) Trading Up 1.4% - Here's What Happened

Key Points

• Palantir Technologies shares rose by 1.4% during trading, reaching a high of $186.28, but saw a significant decline in trading volume, down 48% from the average daily volume.
• The stock is currently rated as a "Hold" by the majority of analysts, with an average price target of $140.22, following several upgrades and downgrades from major financial institutions.
• Palantir reported earnings of $0.16 per share for the last quarter, surpassing estimates, with revenue increasing 48% year-over-year to reach $1 billion.

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) was up 1.4% during trading on Wednesday . The company traded as high as $186.28 and last traded at $184.95. Approximately 45,530,285 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 87,505,109 shares. The stock had previously closed at $182.42.

Wall Street Analyst Weigh In

PLTR has been the subject of several recent research reports. Wall Street Zen downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Palantir Technologies from a "sell" rating to a "hold" rating and boosted their price objective for the stock from $80.00 to $160.00 in a report on Tuesday, August 5th. Bank of America lifted their price target on shares of Palantir Technologies from $180.00 to $215.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. The Goldman Sachs Group increased their target price on Palantir Technologies from $90.00 to $141.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, DA Davidson set a $170.00 price objective on shares of Palantir Technologies and gave the stock a "neutral" rating in a report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $140.22.

Palantir Technologies Stock Performance

The business's 50-day moving average price is $167.37 and its 200 day moving average price is $134.98. The company has a market cap of $438.76 billion, a P/E ratio of 616.52, a P/E/G ratio of 9.98 and a beta of 2.59.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $1 billion for the quarter, compared to analysts' expectations of $939.29 million. Palantir Technologies had a return on equity of 10.75% and a net margin of 22.18%.The firm's revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 EPS. Palantir Technologies has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts forecast that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Activity at Palantir Technologies

In related news, insider Shyam Sankar sold 30,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $159.55, for a total value of $4,786,500.00. Following the transaction, the insider directly owned 702,786 shares in the company, valued at approximately $112,129,506.30. This represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lauren Elaina Friedman Stat sold 9,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $177.60, for a total transaction of $1,598,400.00. Following the transaction, the director owned 50,794 shares in the company, valued at approximately $9,021,014.40. The trade was a 15.05% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,591,085 shares of company stock valued at $244,676,722. 12.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Palantir Technologies by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company's stock worth $28,043,432,000 after purchasing an additional 7,194,216 shares in the last quarter. State Street Corp grew its stake in shares of Palantir Technologies by 6.9% during the second quarter. State Street Corp now owns 94,481,128 shares of the company's stock worth $12,879,667,000 after buying an additional 6,097,629 shares during the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies during the second quarter worth $3,307,457,000. Invesco Ltd. lifted its stake in shares of Palantir Technologies by 16.0% in the 2nd quarter. Invesco Ltd. now owns 20,585,256 shares of the company's stock valued at $2,806,182,000 after acquiring an additional 2,838,300 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Palantir Technologies by 0.3% during the 1st quarter. Northern Trust Corp now owns 19,553,438 shares of the company's stock valued at $1,650,310,000 after acquiring an additional 64,973 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

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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