Palantir Technologies (NASDAQ:PLTR) Shares Up 2.2% – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price shot up 2.2% during trading on Friday . The stock traded as high as $182.15 and last traded at $181.76. 31,574,566 shares were traded during mid-day trading, a decline of 61% from the average session volume of 80,516,859 shares. The stock had previously closed at $177.92.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLTR. HSBC raised their price objective on shares of Palantir Technologies from $181.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. Bank of America raised their price target on shares of Palantir Technologies from $215.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada lifted their price objective on shares of Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Tuesday, November 4th. Robert W. Baird increased their target price on shares of Palantir Technologies from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Finally, Daiwa Capital Markets raised their target price on Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $172.28.

Palantir Technologies Stock Up 2.2%

The company has a market capitalization of $433.21 billion, a price-to-earnings ratio of 432.77, a PEG ratio of 6.83 and a beta of 1.49. The stock’s 50-day simple moving average is $178.91 and its two-hundred day simple moving average is $160.82.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company’s quarterly revenue was up 62.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Activity at Palantir Technologies

In related news, insider David A. Glazer sold 1,973 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $156.25, for a total transaction of $308,281.25. Following the completion of the sale, the insider directly owned 413,639 shares in the company, valued at approximately $64,631,093.75. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ryan D. Taylor sold 36,048 shares of the stock in a transaction on Monday, November 24th. The shares were sold at an average price of $162.36, for a total value of $5,852,753.28. Following the completion of the transaction, the insider directly owned 251,409 shares of the company’s stock, valued at approximately $40,818,765.24. This represents a 12.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,029,844 shares of company stock worth $168,161,111 in the last quarter. Corporate insiders own 9.23% of the company’s stock.

Institutional Investors Weigh In On Palantir Technologies

A number of large investors have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Palantir Technologies in the second quarter worth about $3,307,457,000. Kingstone Capital Partners Texas LLC purchased a new stake in Palantir Technologies during the 2nd quarter valued at about $2,543,888,000. Vanguard Group Inc. raised its holdings in Palantir Technologies by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock valued at $39,017,133,000 after acquiring an additional 8,168,604 shares during the last quarter. State Street Corp raised its holdings in Palantir Technologies by 7.2% in the 3rd quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after acquiring an additional 6,777,771 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Palantir Technologies in the 1st quarter worth approximately $520,232,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.

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.