Shares of Palantir Technologies Inc. (NYSE:PLTR – Get Free Report) shot up 6.5% during trading on Monday after Mizuho raised their price target on the stock from $8.00 to $14.00. The company traded as high as $17.53 and last traded at $17.46. 34,531,410 shares changed hands during trading, a decline of 39% from the average session volume of 56,148,762 shares. The stock had previously closed at $16.40.
Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Palantir Technologies from $6.00 to $7.00 in a report on Tuesday, May 9th. Jefferies Financial Group boosted their price target on shares of Palantir Technologies from $10.00 to $14.00 in a report on Monday, June 5th. Raymond James lowered shares of Palantir Technologies from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from $15.00 to $18.00 in a report on Tuesday, June 20th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a report on Monday, March 27th. Finally, Bank of America boosted their price objective on shares of Palantir Technologies from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, June 12th. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Palantir Technologies has an average rating of “Hold” and a consensus price target of $10.04.
Insider Buying and Selling at Palantir Technologies
In other news, Director Alexander D. Moore sold 21,900 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $7.74, for a total value of $169,506.00. Following the sale, the director now directly owns 1,858,152 shares of the company’s stock, valued at approximately $14,382,096.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Alexander D. Moore sold 37,076 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $15.38, for a total transaction of $570,228.88. Following the sale, the director now directly owns 1,808,819 shares of the company’s stock, valued at $27,819,636.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexander D. Moore sold 21,900 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $7.74, for a total transaction of $169,506.00. Following the sale, the director now directly owns 1,858,152 shares in the company, valued at $14,382,096.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,959,599 shares of company stock worth $27,683,472. 13.96% of the stock is owned by corporate insiders.
Institutional Trading of Palantir Technologies
A number of hedge funds have recently added to or reduced their stakes in PLTR. Close Asset Management Ltd acquired a new position in Palantir Technologies during the first quarter worth $28,000. Manchester Capital Management LLC acquired a new position in Palantir Technologies during the first quarter worth $28,000. Resurgent Financial Advisors LLC acquired a new position in Palantir Technologies during the fourth quarter worth $28,000. Laffer Tengler Investments acquired a new position in Palantir Technologies during the first quarter worth $36,000. Finally, HHM Wealth Advisors LLC raised its position in Palantir Technologies by 1,510.9% during the first quarter. HHM Wealth Advisors LLC now owns 4,446 shares of the company’s stock worth $38,000 after acquiring an additional 4,170 shares during the period. 31.57% of the stock is owned by hedge funds and other institutional investors.
Palantir Technologies Stock Up 6.1 %
The stock’s 50-day simple moving average is $13.99 and its two-hundred day simple moving average is $10.02. The company has a market capitalization of $36.84 billion, a price-to-earnings ratio of -133.69, a PEG ratio of 5.77 and a beta of 2.69.
Palantir Technologies (NYSE:PLTR – Get Free Report) last posted its quarterly earnings data on Monday, May 8th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $525.19 million during the quarter, compared to analysts’ expectations of $504.84 million. Palantir Technologies had a negative net margin of 12.88% and a negative return on equity of 12.48%. On average, sell-side analysts forecast that Palantir Technologies Inc. will post 0.05 EPS for the current year.
Palantir Technologies Company Profile
Palantir Technologies Inc builds and deploys software platforms for the intelligence community in the United States to assist in counterterrorism investigations and operations. 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.