Traders Purchase High Volume of Palantir Technologies Call Options (NYSE:PLTR)

Palantir Technologies Inc. (NYSE:PLTRGet Free Report) was the target of unusually large options trading on Friday. Stock investors acquired 535,707 call options on the company. This represents an increase of approximately 51% compared to the typical daily volume of 355,223 call options.

Analysts Set New Price Targets

Several brokerages recently commented on PLTR. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research report on Tuesday, May 7th. Royal Bank of Canada boosted their price target on Palantir Technologies from $5.00 to $9.00 and gave the stock an “underperform” rating in a research report on Tuesday, May 7th. Mizuho boosted their price target on Palantir Technologies from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Citigroup boosted their price target on Palantir Technologies from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Finally, HSBC boosted their price target on Palantir Technologies from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.25.

Get Our Latest Stock Analysis on PLTR

Insider Transactions at Palantir Technologies

In other Palantir Technologies news, Director Alexander D. Moore sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the completion of the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palantir Technologies news, Director Peter Thiel sold 6,285,833 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $21.33, for a total value of $134,076,817.89. Following the completion of the transaction, the director now directly owns 64,520,599 shares of the company’s stock, valued at $1,376,224,376.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander D. Moore sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $22.02, for a total value of $440,400.00. Following the transaction, the director now directly owns 1,595,519 shares of the company’s stock, valued at $35,133,328.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,372,153 shares of company stock worth $239,941,245. Insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Palantir Technologies by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 196,834,580 shares of the company’s stock valued at $4,529,164,000 after purchasing an additional 3,029,317 shares during the last quarter. Morgan Stanley grew its stake in shares of Palantir Technologies by 26.1% in the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock valued at $361,833,000 after purchasing an additional 4,675,824 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Palantir Technologies by 15.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,571,224 shares of the company’s stock valued at $335,284,000 after purchasing an additional 1,980,495 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Palantir Technologies by 16.1% in the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock valued at $187,803,000 after purchasing an additional 1,514,232 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. grew its stake in shares of Palantir Technologies by 19.2% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 9,829,631 shares of the company’s stock valued at $226,180,000 after purchasing an additional 1,580,548 shares during the last quarter. Hedge funds and other institutional investors own 45.65% of the company’s stock.

Palantir Technologies Price Performance

Shares of PLTR traded up $1.38 during mid-day trading on Friday, reaching $27.23. The company’s stock had a trading volume of 46,111,336 shares, compared to its average volume of 56,034,586. Palantir Technologies has a 12-month low of $13.68 and a 12-month high of $27.50. The stock has a market cap of $60.64 billion, a PE ratio of 225.44, a price-to-earnings-growth ratio of 5.97 and a beta of 2.71. The company’s 50 day moving average is $22.98 and its 200 day moving average is $21.70.

Palantir Technologies (NYSE:PLTRGet Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $634.34 million for the quarter, compared to the consensus estimate of $614.88 million. Palantir Technologies had a return on equity of 8.28% and a net margin of 12.79%. As a group, sell-side analysts anticipate that Palantir Technologies will post 0.16 EPS for the current fiscal year.

Palantir Technologies Company Profile

(Get Free Report)

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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