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

Palantir Technologies Inc. (NASDAQ:PLTRGet Free Report)’s stock price shot up 4.7% on Thursday . The stock traded as high as $187.33 and last traded at $185.69. 39,917,007 shares were traded 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.

Key Stores Impacting Palantir Technologies

Here are the key news stories impacting Palantir Technologies this week:

Wall Street Analyst Weigh In

Several research firms have recently commented on PLTR. Daiwa Capital Markets upped their price objective on shares of Palantir Technologies from $178.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. HSBC upped their price target on shares of Palantir Technologies from $181.00 to $197.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. Bank of America increased their price target on Palantir Technologies from $215.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada boosted their price objective on Palantir Technologies from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Tuesday, November 4th. Finally, CICC Research upped their target price on Palantir Technologies from $128.00 to $150.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Five analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $172.28.

View Our Latest Stock Report on PLTR

Palantir Technologies Trading Up 4.1%

The stock has a 50-day moving average price of $179.74 and a 200 day moving average price of $165.42. The stock has a market capitalization of $460.91 billion, a price-to-earnings ratio of 460.44, a PEG ratio of 7.20 and a beta of 1.49.

Palantir Technologies (NASDAQ:PLTRGet Free Report) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.09 billion. Palantir Technologies had a return on equity of 15.48% and a net margin of 28.11%.Palantir Technologies’s revenue for the quarter was up 62.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 earnings per share. Equities research analysts anticipate that Palantir Technologies Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other Palantir Technologies news, insider Jeffrey Buckley sold 1,252 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $157.50, for a total transaction of $197,190.00. Following the completion of the transaction, the insider directly owned 47,044 shares in the company, valued at approximately $7,409,430. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Ryan D. Taylor sold 36,048 shares of Palantir Technologies stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $162.36, for a total transaction of $5,852,753.28. Following the completion of the sale, the insider owned 251,409 shares in the company, valued at approximately $40,818,765.24. This trade represents a 12.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,008,844 shares of company stock worth $164,750,951 in the last 90 days. 9.23% of the stock is owned by insiders.

Institutional Investors Weigh In On Palantir Technologies

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Palantir Technologies by 3.6% during the second quarter. Vanguard Group Inc. now owns 205,717,666 shares of the company’s stock valued at $28,043,432,000 after purchasing an additional 7,194,216 shares in the last quarter. Truist Financial Corp lifted its position in shares of Palantir Technologies by 4.2% during the 2nd quarter. Truist Financial Corp now owns 537,000 shares of the company’s stock worth $73,204,000 after buying an additional 21,809 shares during the period. State of Michigan Retirement System lifted its position in shares of Palantir Technologies by 1.3% during the 2nd quarter. State of Michigan Retirement System now owns 938,400 shares of the company’s stock worth $127,923,000 after buying an additional 12,300 shares during the period. Prentice Wealth Management LLC acquired a new stake in Palantir Technologies in the 3rd quarter valued at $550,000. Finally, Presilium Private Wealth LLC bought a new stake in Palantir Technologies in the second quarter valued at $204,000. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Palantir Technologies Company Profile

(Get Free Report)

Palantir Technologies is a software company that develops data integration, analytics and operational decision-making platforms for government and commercial customers. Founded in 2003 by a team that included Alex Karp and Peter Thiel, Palantir has grown into a provider of enterprise-scale software designed to help organizations integrate disparate data sources, build analytic models and drive operational workflows. The company went public in 2020 and continues to position its products around large, complex data projects where security, provenance and real-time collaboration are important.

Palantir’s product portfolio centers on a small number of core platforms.

See Also

Receive News & Ratings for Palantir Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palantir Technologies and related companies with MarketBeat.com's FREE daily email newsletter.