Palantir Technologies (NYSE:PLTR) Stock Price Up 4.7% - What's Next?

Palantir Technologies Inc. (NYSE:PLTR - Get Free Report)'s share price traded up 4.7% during trading on Monday . The company traded as high as $61.39 and last traded at $61.11. 40,237,035 shares changed hands during trading, a decline of 30% from the average session volume of 57,491,762 shares. The stock had previously closed at $58.39.

Analyst Upgrades and Downgrades

PLTR has been the subject of a number of recent analyst reports. Argus downgraded shares of Palantir Technologies from a "buy" rating to a "hold" rating in a research report on Thursday. DA Davidson increased their price objective on Palantir Technologies from $28.00 to $47.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 5th. Jefferies Financial Group lowered shares of Palantir Technologies from a "hold" rating to an "underperform" rating and set a $28.00 target price on the stock. in a research report on Thursday. Citigroup increased their price target on shares of Palantir Technologies from $25.00 to $28.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Finally, Monness Crespi & Hardt reduced their price objective on shares of Palantir Technologies from $20.00 to $18.00 and set a "sell" rating for the company in a research note on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Palantir Technologies has a consensus rating of "Hold" and a consensus target price of $31.71.

Palantir Technologies Trading Up 3.4 %

The company has a market capitalization of $135.24 billion, a price-to-earnings ratio of 305.57 and a beta of 2.70. The company's 50 day simple moving average is $40.13 and its 200-day simple moving average is $30.71.

Palantir Technologies (NYSE:PLTR - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The firm had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. During the same quarter last year, the business earned $0.03 earnings per share. Palantir Technologies's revenue was up 30.0% compared to the same quarter last year. Sell-side analysts anticipate that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Buying and Selling at Palantir Technologies

In other news, insider Shyam Sankar sold 50,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total transaction of $1,617,500.00. Following the transaction, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Heather A. Planishek sold 14,016 shares of the firm's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $30.67, for a total value of $429,870.72. Following the transaction, the insider now directly owns 576,023 shares in the company, valued at $17,666,625.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shyam Sankar sold 50,000 shares of Palantir Technologies stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.35, for a total value of $1,617,500.00. Following the completion of the transaction, the insider now directly owns 752,786 shares in the company, valued at $24,352,627.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,462,878 shares of company stock worth $1,043,597,696 in the last 90 days. 12.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Northwest Investment Counselors LLC acquired a new stake in shares of Palantir Technologies in the third quarter valued at about $25,000. Summit Securities Group LLC purchased a new stake in shares of Palantir Technologies during the second quarter valued at approximately $25,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Palantir Technologies during the second quarter worth $25,000. Creekmur Asset Management LLC boosted its stake in shares of Palantir Technologies by 46.0% in the third quarter. Creekmur Asset Management LLC now owns 1,063 shares of the company's stock valued at $40,000 after purchasing an additional 335 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE grew its holdings in Palantir Technologies by 47.5% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,180 shares of the company's stock valued at $44,000 after purchasing an additional 380 shares in the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

About Palantir Technologies

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.

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