Palantir Technologies (NASDAQ:PLTR) Trading Up 0.9% After Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price rose 0.9% during trading on Thursday after Wedbush raised their price target on the stock from $75.00 to $90.00. Wedbush currently has an outperform rating on the stock. Palantir Technologies traded as high as $78.53 and last traded at $77.53. Approximately 24,256,373 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 67,594,070 shares. The stock had previously closed at $76.87.

PLTR has been the topic of a number of other reports. Robert W. Baird initiated coverage on Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price target on the stock. Argus cut Palantir Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Wednesday, December 18th. Bank of America upped their price target on shares of Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Northland Securities boosted their target price on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.61.

Insider Buying and Selling at Palantir Technologies

In related news, Director Lauren Elaina Friedman Stat sold 8,054 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $50.49, for a total value of $406,646.46. Following the completion of the transaction, the director now owns 130,250 shares of the company’s stock, valued at $6,576,322.50. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexandra W. Schiff sold 4,000 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $71.63, for a total transaction of $286,520.00. Following the sale, the director now owns 195,393 shares in the company, valued at $13,996,000.59. The trade was a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 in the last three months. 12.93% of the stock is currently owned by company insiders.

Institutional Trading of Palantir Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies during the 3rd quarter worth approximately $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of Palantir Technologies by 747.1% during the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares in the last quarter. First PREMIER Bank acquired a new position in shares of Palantir Technologies during the fourth quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its position in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Palantir Technologies during the 2nd quarter valued at $30,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Stock Up 1.4 %

The company has a market capitalization of $177.58 billion, a P/E ratio of 390.59, a P/E/G ratio of 6.73 and a beta of 2.82. The firm’s 50-day moving average price is $71.30 and its 200 day moving average price is $48.32.

Palantir Technologies (NASDAQ:PLTR) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities research analysts expect that Palantir Technologies Inc. will post 0.2 EPS for the current year.

About Palantir Technologies

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.