Palantir Technologies (NYSE:PLTR) Shares Up 1.6% - Here's Why

Shares of Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) shot up 1.6% during trading on Thursday . The company traded as high as $75.38 and last traded at $73.64. 34,776,662 shares were traded during mid-day trading, a decline of 42% from the average session volume of 59,737,082 shares. The stock had previously closed at $72.51.

Analyst Ratings Changes

A number of brokerages recently weighed in on PLTR. Jefferies Financial Group downgraded shares of Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price on the stock. in a report on Thursday, November 7th. William Blair restated an "underperform" rating on shares of Palantir Technologies in a report on Wednesday, December 4th. Bank of America boosted their target price on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, November 25th. Robert W. Baird began coverage on shares of Palantir Technologies in a report on Thursday. They set a "neutral" rating and a $70.00 target price on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of Palantir Technologies from $16.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $37.93.

Palantir Technologies Price Performance

The stock has a market cap of $166.75 billion, a P/E ratio of 366.00, a PEG ratio of 10.29 and a beta of 2.87. The business's fifty day moving average price is $55.02 and its 200 day moving average price is $38.01.

Palantir Technologies (NYSE:PLTR - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company had revenue of $725.52 million during the quarter, compared to the consensus estimate of $705.11 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The firm's revenue was up 30.0% compared to the same quarter last year. On average, analysts predict that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In other Palantir Technologies news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.07, for a total transaction of $162,315,000.00. Following the completion of the sale, the insider now owns 6,432,258 shares of the company's stock, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heather A. Planishek sold 20,000 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $39.95, for a total transaction of $799,000.00. Following the sale, the insider now directly owns 562,006 shares of the company's stock, valued at $22,452,139.70. This represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,252,313 shares of company stock valued at $1,967,089,241 over the last quarter. 12.93% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

Several large investors have recently modified their holdings of PLTR. Walter & Keenan Wealth Management LLC IN ADV lifted its holdings in shares of Palantir Technologies by 1.2% in the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company's stock worth $729,000 after purchasing an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC lifted its holdings in shares of Palantir Technologies by 0.3% in the 3rd quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company's stock worth $3,251,000 after purchasing an additional 250 shares in the last quarter. Quantum Private Wealth LLC lifted its holdings in shares of Palantir Technologies by 1.1% in the 3rd quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company's stock worth $865,000 after purchasing an additional 250 shares in the last quarter. Truvestments Capital LLC lifted its holdings in shares of Palantir Technologies by 2.4% in the 3rd quarter. Truvestments Capital LLC now owns 12,169 shares of the company's stock worth $453,000 after purchasing an additional 291 shares in the last quarter. Finally, LCM Capital Management Inc lifted its holdings in shares of Palantir Technologies by 0.9% in the 3rd quarter. LCM Capital Management Inc now owns 32,455 shares of the company's stock worth $1,207,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 45.65% of the company's stock.

Palantir Technologies Company Profile

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.