Palantir Technologies (NASDAQ:PLTR) Stock Price Up 2.3% Following Analyst Upgrade

Shares of Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report) rose 2.3% during mid-day trading on Friday 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 $138.49 and last traded at $138.25. Approximately 34,368,438 shares were traded during trading, a decline of 57% from the average daily volume of 80,373,479 shares. The stock had previously closed at $135.19.

A number of other equities analysts have also issued reports on PLTR. Deutsche Bank Aktiengesellschaft reaffirmed a "sell" rating on shares of Palantir Technologies in a research report on Tuesday, May 6th. UBS Group boosted their target price on shares of Palantir Technologies from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Royal Bank of Canada reiterated an "underperform" rating on shares of Palantir Technologies in a research note on Tuesday, May 6th. Morgan Stanley lifted their price target on shares of Palantir Technologies from $90.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Finally, Mizuho lifted their price target on shares of Palantir Technologies from $94.00 to $116.00 and gave the stock an "underperform" rating in a research note on Wednesday. Five 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. Based on data from MarketBeat.com, Palantir Technologies currently has a consensus rating of "Hold" and a consensus target price of $86.30.

Insiders Place Their Bets

In related news, Director Eric H. Woersching sold 17,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $129.29, for a total value of $2,197,930.00. Following the completion of the transaction, the director now directly owns 12,562 shares in the company, valued at approximately $1,624,140.98. The trade was a 57.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $81.25, for a total value of $65,000.00. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. In the last three months, insiders sold 1,816,925 shares of company stock valued at $215,448,358. 9.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palantir Technologies

Several hedge funds have recently made changes to their positions in PLTR. Norges Bank bought a new position in shares of Palantir Technologies during the 4th quarter worth approximately $1,360,191,000. Nuveen LLC bought a new position in shares of Palantir Technologies during the 1st quarter worth approximately $520,232,000. Price T Rowe Associates Inc. MD grew its stake in shares of Palantir Technologies by 55.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company's stock worth $1,126,408,000 after acquiring an additional 4,748,513 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Palantir Technologies by 38.5% during the 1st 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 in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Palantir Technologies by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company's stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares in the last quarter. 45.65% of the stock is owned by institutional investors.

Palantir Technologies Trading Up 1.6%

The company has a market capitalization of $324.25 billion, a P/E ratio of 723.20, a PEG ratio of 10.84 and a beta of 2.64. The firm's 50 day moving average price is $114.28 and its two-hundred day moving average price is $94.12.

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