Palantir Technologies (NYSE:PLTR) Sees Large Volume Increase - What's Next?

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 41,784,836 shares were traded during trading, a decline of 28% from the previous session's volume of 58,311,016 shares.The stock last traded at $59.48 and had previously closed at $65.77.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PLTR shares. Raymond James downgraded Palantir Technologies from an "outperform" rating to a "market perform" rating in a research note on Monday, September 23rd. Northland Securities raised their price target on Palantir Technologies from $35.00 to $38.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 5th. Mizuho raised their price target on Palantir Technologies from $30.00 to $37.00 and gave the stock an "underperform" rating in a research note on Tuesday, November 5th. Royal Bank of Canada restated an "underperform" rating and issued a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Palantir Technologies from $20.00 to $21.00 and gave the stock a "sell" rating in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Palantir Technologies currently has a consensus rating of "Hold" and an average price target of $31.71.

Palantir Technologies Stock Down 6.9 %

The stock has a fifty day simple moving average of $43.72 and a 200 day simple moving average of $32.36. The firm has a market capitalization of $137.17 billion, a P/E ratio of 306.27 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the previous year, the business earned $0.03 earnings per share. The business's revenue was up 30.0% on a year-over-year basis. Research analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Alexander D. Moore sold 20,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $30.89, for a total value of $617,800.00. Following the sale, the director now directly owns 1,510,630 shares in the company, valued at approximately $46,663,360.70. The trade was a 1.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather A. Planishek sold 11,373 shares of the business's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $32.25, for a total value of $366,779.25. Following the completion of the sale, the insider now owns 600,633 shares in the company, valued at $19,370,414.25. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,562,840 shares of company stock worth $1,435,787,316 over the last ninety days. Corporate insiders own 12.93% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Walter & Keenan Wealth Management LLC IN ADV grew its stake in Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company's stock worth $729,000 after purchasing an additional 235 shares in the last quarter. Greater Midwest Financial Group LLC grew its stake in Palantir Technologies by 0.3% in the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company's stock worth $3,251,000 after purchasing an additional 250 shares in the last quarter. Quantum Private Wealth LLC grew its stake in Palantir Technologies by 1.1% in the third quarter. Quantum Private Wealth LLC now owns 23,257 shares of the company's stock worth $865,000 after purchasing an additional 250 shares in the last quarter. Truvestments Capital LLC grew its stake in Palantir Technologies by 2.4% in the third quarter. Truvestments Capital LLC now owns 12,169 shares of the company's stock worth $453,000 after purchasing an additional 291 shares in the last quarter. Finally, LCM Capital Management Inc grew its stake in Palantir Technologies by 0.9% in the third quarter. LCM Capital Management Inc now owns 32,455 shares of the company's stock worth $1,207,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 45.65% of the company's stock.

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.