Palantir Technologies (NASDAQ:PLTR) Trading 2.6% Higher - What's Next?

Palantir Technologies Inc. (NASDAQ:PLTR - Get Free Report)'s stock price rose 2.6% during trading on Tuesday . The stock traded as high as $68.23 and last traded at $66.67. Approximately 27,530,701 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 74,115,008 shares. The stock had previously closed at $64.98.

Analyst Upgrades and Downgrades

PLTR has been the subject of several analyst reports. Bank of America boosted their target price on Palantir Technologies from $55.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. DA Davidson increased their price objective on shares of Palantir Technologies from $28.00 to $47.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Northland Securities lifted their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 5th. UBS Group initiated coverage on Palantir Technologies in a report on Thursday, December 19th. They set a "neutral" rating and a $80.00 price target for the company. Finally, Argus downgraded Palantir Technologies from a "buy" rating to a "hold" rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $42.12.

Palantir Technologies Price Performance

The company has a market capitalization of $150.14 billion, a PE ratio of 329.57, a P/E/G ratio of 10.18 and a beta of 2.82. The stock has a 50-day simple moving average of $69.70 and a 200 day simple moving average of $46.54.

Palantir Technologies (NASDAQ:PLTR - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. The firm had revenue of $725.52 million for the quarter, compared to analysts' expectations 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 was up 30.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 EPS. As a group, research analysts predict that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Buying and Selling

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 shares were 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 approximately $6,576,322.50. The trade was a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander C. Karp sold 3,337,048 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the sale, the insider now directly owns 6,432,258 shares in the company, valued at $289,580,255.16. This represents a 34.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,642,189 shares of company stock worth $1,444,232,453 in the last ninety days. Insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. BOKF NA grew its holdings in Palantir Technologies by 2.3% in the 2nd quarter. BOKF NA now owns 30,739 shares of the company's stock valued at $779,000 after buying an additional 700 shares during the period. DekaBank Deutsche Girozentrale increased its position in Palantir Technologies by 107.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 478,345 shares of the company's stock worth $12,164,000 after purchasing an additional 247,681 shares during the last quarter. Federated Hermes Inc. raised its stake in Palantir Technologies by 0.3% during the second quarter. Federated Hermes Inc. now owns 431,667 shares of the company's stock worth $10,934,000 after purchasing an additional 1,321 shares during the period. Thoroughbred Financial Services LLC purchased a new position in Palantir Technologies during the second quarter worth approximately $290,000. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Palantir Technologies by 73.9% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 57,037 shares of the company's stock valued at $1,445,000 after purchasing an additional 24,245 shares during the last quarter. 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.