Palantir Technologies (NYSE:PLTR) Stock Price Up 1.4% – Here’s What Happened

Palantir Technologies Inc. (NYSE:PLTR)’s stock price rose 1.4% during trading on Friday . The stock traded as high as $67.00 and last traded at $66.97. Approximately 15,210,859 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 58,644,922 shares. The stock had previously closed at $66.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PLTR shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Palantir Technologies from $20.00 to $21.00 and gave the stock a “sell” rating in a report on Tuesday, August 6th. DA Davidson lifted their target price on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group boosted their target price on Palantir Technologies from $16.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Northland Capmk raised Palantir Technologies to a “hold” rating in a report on Thursday, August 22nd. Finally, Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $35.64.

Palantir Technologies Price Performance

The business’s 50 day simple moving average is $48.27 and its 200-day simple moving average is $34.55. The stock has a market capitalization of $151.85 billion, a P/E ratio of 334.87, a PEG ratio of 8.93 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The business had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same period in the previous year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. Research analysts anticipate 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 business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the transaction, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. The trade was a 41.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lauren Elaina Friedman Stat sold 9,746 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $66.77, for a total value of $650,740.42. Following the completion of the sale, the director now owns 111,644 shares of the company’s stock, valued at $7,454,469.88. This trade represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,163,181 shares of company stock valued at $1,603,288,758 in the last ninety days. 12.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC bought a new stake in Palantir Technologies in the 2nd quarter valued at $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter worth about $25,000. Northwest Investment Counselors LLC bought a new position in shares of Palantir Technologies during the third quarter worth about $25,000. Prestige Wealth Management Group LLC raised its position in Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies in the 2nd quarter valued at approximately $30,000. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.