Palantir Technologies (NASDAQ:PLTR) Trading Up 6.3% on Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price was up 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 traded hands during mid-day 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 issued reports on the stock. DA Davidson lifted their price target on shares of Palantir Technologies from $100.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday. Daiwa Capital Markets assumed coverage on shares of Palantir Technologies in a research note on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 price target on the stock. Cantor Fitzgerald boosted 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. Northland Securities increased their price objective on Palantir Technologies from $38.00 to $80.00 and gave the company a “market perform” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird lifted their target price on shares of Palantir Technologies from $70.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Palantir Technologies has a consensus rating of “Hold” and an average price target of $83.95.

Insider Activity

In related news, insider Heather A. Planishek sold 13,891 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $115.96, for a total transaction of $1,610,800.36. Following the transaction, the insider now owns 512,006 shares of the company’s stock, valued at $59,372,215.76. This represents a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lauren Elaina Friedman Stat sold 800 shares of the company’s stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $81.25, for a total transaction of $65,000.00. Following the transaction, the director now owns 61,339 shares in the company, valued at $4,983,793.75. The trade was a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,978,181 shares of company stock valued at $252,115,667 over the last quarter. Corporate insiders own 9.23% of the company’s stock.

Institutional Trading of Palantir Technologies

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

Palantir Technologies Stock Down 1.5 %

The company has a market capitalization of $275.25 billion, a price-to-earnings ratio of 617.72, a PEG ratio of 10.84 and a beta of 2.68. The stock has a fifty day moving average price of $94.23 and a two-hundred day moving average price of $81.99.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, May 5th. The company reported $0.13 earnings per share (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 business had revenue of $883.86 million for the quarter, compared to analysts’ expectations of $863.89 million. During the same period last year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 39.4% on a year-over-year basis. As a group, research analysts forecast 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.