Palantir Technologies (NASDAQ:PLTR) Trading 3.7% Higher – What’s Next?

Palantir Technologies Inc. (NASDAQ:PLTR) traded up 3.7% during trading on Monday . The company traded as high as $72.34 and last traded at $71.77. 54,590,923 shares traded hands during trading, a decline of 32% from the average session volume of 79,745,712 shares. The stock had previously closed at $69.24.

Wall Street Analysts Forecast Growth

PLTR has been the subject of several analyst reports. Morgan Stanley restated an “underweight” rating and issued a $60.00 target price on shares of Palantir Technologies in a report on Monday, January 6th. Robert W. Baird began coverage on shares of Palantir Technologies in a report on Thursday, December 12th. They set a “neutral” rating and a $70.00 price objective for the company. Mizuho lifted their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. The Goldman Sachs Group upped their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Argus lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Palantir Technologies presently has an average rating of “Hold” and an average target price of $43.78.

Palantir Technologies Stock Up 1.8 %

The firm has a market capitalization of $166.45 billion, a P/E ratio of 365.37, a PEG ratio of 6.66 and a beta of 2.82. The business has a 50-day moving average price of $70.72 and a 200-day moving average price of $47.79.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The company 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 company’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, sell-side analysts forecast that Palantir Technologies Inc. will post 0.2 EPS for the current year.

Insider Transactions at Palantir Technologies

In other news, Director Lauren Elaina Friedman Stat sold 800 shares of Palantir Technologies stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $76.29, for a total value of $61,032.00. Following the completion of the sale, the director now directly owns 62,139 shares of the company’s stock, valued at approximately $4,740,584.31. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexandra W. Schiff sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $71.63, for a total value of $286,520.00. Following the transaction, the director now directly owns 195,393 shares in the company, valued at $13,996,000.59. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,642,189 shares of company stock valued at $1,444,232,453. 12.93% of the stock is owned by insiders.

Institutional Trading of Palantir Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTR. Northwest Investment Counselors LLC bought a new stake in shares of Palantir Technologies during the 3rd quarter valued at $25,000. Prestige Wealth Management Group LLC raised its position in shares of Palantir Technologies by 747.1% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the period. First PREMIER Bank bought a new position in Palantir Technologies during the 4th quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its holdings in Palantir Technologies by 230.4% during the fourth quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after purchasing an additional 265 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies in the second quarter worth $30,000. 45.65% of the stock is owned by institutional investors.

About Palantir Technologies

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.