Palantir Technologies (NYSE:PLTR) PT Raised to $45.00 at Wedbush

Palantir Technologies (NYSE:PLTR) had its price objective hoisted by investment analysts at Wedbush from $38.00 to $45.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 22.08% from the stock’s current price.

A number of other brokerages also recently commented on PLTR. Monness Crespi & Hardt lowered their price target on shares of Palantir Technologies from $20.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, August 6th. Argus initiated coverage on Palantir Technologies in a research note on Monday, June 17th. They issued a “buy” rating and a $29.00 price objective for the company. The Goldman Sachs Group lifted their target price on Palantir Technologies from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Raymond James lowered Palantir Technologies from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, DA Davidson lifted their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.29.

Palantir Technologies Price Performance

Shares of PLTR opened at $36.86 on Thursday. The stock has a market capitalization of $82.08 billion, a price-to-earnings ratio of 307.17 and a beta of 2.72. Palantir Technologies has a 1 year low of $14.48 and a 1 year high of $38.19. The business’s 50 day simple moving average is $31.43 and its 200-day simple moving average is $26.31.

Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Monday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Palantir Technologies had a net margin of 16.32% and a return on equity of 8.88%. The business had revenue of $678.13 million for the quarter, compared to analysts’ expectations of $653.23 million. During the same period in the previous year, the company earned $0.01 EPS. Palantir Technologies’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, sell-side analysts expect that Palantir Technologies will post 0.19 earnings per share for the current year.

Insider Transactions at Palantir Technologies

In related news, Director Peter Thiel sold 4,254,666 shares of Palantir Technologies stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total transaction of $156,444,068.82. Following the completion of the sale, the director now owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Lauren Elaina Friedman Stat sold 6,655 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $38.17, for a total transaction of $254,021.35. Following the transaction, the director now owns 145,625 shares of the company’s stock, valued at approximately $5,558,506.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Thiel sold 4,254,666 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $36.77, for a total value of $156,444,068.82. Following the transaction, the director now owns 51,234,275 shares in the company, valued at approximately $1,883,884,291.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,644,559 shares of company stock worth $346,929,762. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently added to or reduced their stakes in PLTR. Vantage Financial Partners LLC boosted its stake in shares of Palantir Technologies by 20.2% during the fourth quarter. Vantage Financial Partners LLC now owns 60,124 shares of the company’s stock valued at $1,032,000 after purchasing an additional 10,124 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Palantir Technologies by 9.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,567,409 shares of the company’s stock valued at $44,091,000 after acquiring an additional 228,428 shares in the last quarter. Norges Bank bought a new stake in Palantir Technologies during the 4th quarter valued at $46,542,000. PNC Financial Services Group Inc. increased its holdings in shares of Palantir Technologies by 11.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 57,069 shares of the company’s stock valued at $980,000 after acquiring an additional 5,759 shares during the period. Finally, Corient Private Wealth LLC raised its position in shares of Palantir Technologies by 7.6% in the 4th quarter. Corient Private Wealth LLC now owns 160,088 shares of the company’s stock worth $2,749,000 after acquiring an additional 11,284 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.