Palantir Technologies (NASDAQ:PLTR) Shares Up 25.2% on Analyst Upgrade

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price shot up 25.2% during trading on Tuesday after DA Davidson raised their price target on the stock from $47.00 to $105.00. DA Davidson currently has a neutral rating on the stock. Palantir Technologies traded as high as $106.91 and last traded at $104.88. 115,890,851 shares traded hands during mid-day trading, an increase of 59% from the average session volume of 72,685,938 shares. The stock had previously closed at $83.74.

PLTR has been the subject of a number of other reports. Wedbush lifted their price target on Palantir Technologies from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Morgan Stanley upgraded shares of Palantir Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $60.00 to $95.00 in a report on Tuesday. Robert W. Baird boosted their price target on shares of Palantir Technologies from $70.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Cantor Fitzgerald raised their price objective on Palantir Technologies from $72.00 to $98.00 and gave the stock a “neutral” rating in a report on Tuesday. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $61.78.

Insider Activity at Palantir Technologies

In other Palantir Technologies news, insider Shyam Sankar sold 5,250,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $70.08, for a total transaction of $367,920,000.00. Following the sale, the insider now owns 752,786 shares in the company, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Andrew Cohen sold 450,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total transaction of $31,927,500.00. Following the completion of the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $42,002.40. The trade was a 99.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,153,753 shares of company stock worth $1,287,042,675 over the last three months. 12.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Palantir Technologies

A number of hedge funds have recently bought and sold shares of PLTR. Colonial River Investments LLC boosted its position in shares of Palantir Technologies by 4.5% in the fourth quarter. Colonial River Investments LLC now owns 25,536 shares of the company’s stock worth $1,931,000 after acquiring an additional 1,102 shares during the last quarter. World Equity Group Inc. raised its stake in shares of Palantir Technologies by 53.5% in the 4th quarter. World Equity Group Inc. now owns 79,124 shares of the company’s stock valued at $5,984,000 after acquiring an additional 27,578 shares during the period. Delta Financial Group Inc. purchased a new stake in shares of Palantir Technologies during the 4th quarter valued at about $272,000. Ascent Wealth Partners LLC purchased a new position in Palantir Technologies in the 4th quarter valued at about $257,000. Finally, Cabot Wealth Management Inc. purchased a new stake in shares of Palantir Technologies during the fourth quarter worth about $272,000. Institutional investors and hedge funds own 45.65% of the company’s stock.

Palantir Technologies Trading Up 25.0 %

The stock has a market cap of $238.47 billion, a price-to-earnings ratio of 523.80, a price-to-earnings-growth ratio of 7.54 and a beta of 2.81. The business has a 50 day simple moving average of $74.09 and a two-hundred day simple moving average of $51.39.

Palantir Technologies (NASDAQ:PLTR) last released its 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. The firm had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Research analysts anticipate that Palantir Technologies Inc. will post 0.19 EPS for the current fiscal 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.