Palantir Technologies (NASDAQ:PLTR) Trading 4.7% Higher – Here’s What Happened

by · The Cerbat Gem

Palantir Technologies Inc. (NASDAQ:PLTR – Get Free Report)’s share price shot up 4.7% during trading on Thursday . The company traded as high as $187.33 and last traded at $185.69. 39,917,007 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 78,961,203 shares. The stock had previously closed at $177.29.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PLTR. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palantir Technologies from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Mizuho lifted their price target on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, November 4th. UBS Group upped their price target on Palantir Technologies from $165.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. Northland Securities raised their price objective on Palantir Technologies from $14.00 to $18.50 in a research report on Tuesday, November 4th. Finally, Weiss Ratings upgraded Palantir Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Five analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Palantir Technologies currently has a consensus rating of “Hold” and a consensus target price of $172.28.

View Our Latest Report on PLTR

Palantir Technologies Stock Performance

The firm has a market cap of $442.58 billion, a price-to-earnings ratio of 442.13, a price-to-earnings-growth ratio of 7.28 and a beta of 1.49. The firm’s 50 day moving average is $179.37 and its 200-day moving average is $164.85.

Palantir Technologies (NASDAQ:PLTR – Get Free Report) last posted its earnings results on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.The business’s revenue was up 62.8% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. As a group, research analysts predict that Palantir Technologies Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In related news, insider Shyam Sankar sold 19,004 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $156.25, for a total transaction of $2,969,375.00. Following the completion of the transaction, the insider owned 642,786 shares of the company’s stock, valued at approximately $100,435,312.50. The trade was a 2.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Buckley sold 1,252 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $157.50, for a total value of $197,190.00. Following the sale, the insider owned 47,044 shares of the company’s stock, valued at approximately $7,409,430. The trade was a 2.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,008,844 shares of company stock valued at $164,750,951 in the last quarter. Insiders own 9.23% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Revolve Wealth Partners LLC acquired a new position in shares of Palantir Technologies during the fourth quarter valued at about $450,000. Bison Wealth LLC raised its holdings in Palantir Technologies by 37.4% in the 4th quarter. Bison Wealth LLC now owns 17,130 shares of the company’s stock valued at $1,296,000 after acquiring an additional 4,667 shares in the last quarter. Capstone Wealth Management Group LLC lifted its position in shares of Palantir Technologies by 38.0% in the 1st quarter. Capstone Wealth Management Group LLC now owns 17,147 shares of the company’s stock worth $1,447,000 after acquiring an additional 4,722 shares during the period. Algert Global LLC acquired a new stake in shares of Palantir Technologies during the 1st quarter worth approximately $2,246,000. Finally, Aptus Capital Advisors LLC increased its position in shares of Palantir Technologies by 3.9% during the first quarter. Aptus Capital Advisors LLC now owns 49,594 shares of the company’s stock valued at $4,186,000 after purchasing an additional 1,858 shares during the period. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

(Get Free Report)

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.

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