Palantir Technologies Inc. (NYSE:PLTR – Get Rating) saw unusually-strong trading volume on Wednesday after Mizuho raised their price target on the stock from $7.00 to $8.00. Mizuho currently has a neutral rating on the stock. Approximately 32,200,520 shares changed hands during mid-day trading, a decline of 24% from the previous session’s volume of 42,381,133 shares. The stock last traded at $9.51 and had previously closed at $9.22.
Several other research analysts have also recently weighed in on PLTR. Deutsche Bank Aktiengesellschaft reduced their price target on Palantir Technologies from $7.00 to $6.00 and set a “sell” rating for the company in a research report on Monday, January 23rd. The Goldman Sachs Group cut their price objective on Palantir Technologies to $9.00 in a research report on Tuesday, November 15th. Royal Bank of Canada cut their price objective on Palantir Technologies from $6.00 to $5.00 and set an “underperform” rating for the company in a research report on Monday, November 7th. Wolfe Research cut Palantir Technologies from a “peer perform” rating to an “underperform” rating and set a $4.50 price objective for the company. in a research report on Wednesday, December 21st. Finally, Morgan Stanley cut their price objective on Palantir Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, December 19th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.77.
Insider Activity
In other news, insider Stephen Andrew Cohen sold 139,580 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $7.17, for a total value of $1,000,788.60. Following the transaction, the insider now owns 592 shares of the company’s stock, valued at approximately $4,244.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Palantir Technologies news, insider Shyam Sankar sold 50,000 shares of the company’s stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $7.24, for a total transaction of $362,000.00. Following the sale, the insider now owns 1,855,012 shares in the company, valued at approximately $13,430,286.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Andrew Cohen sold 139,580 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $7.17, for a total value of $1,000,788.60. Following the transaction, the insider now directly owns 592 shares of the company’s stock, valued at $4,244.64. The disclosure for this sale can be found here. Insiders have sold a total of 1,085,739 shares of company stock valued at $7,651,502 in the last quarter. Insiders own 13.22% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. CX Institutional acquired a new position in shares of Palantir Technologies during the 2nd quarter worth about $29,000. Exos TFP Holdings LLC acquired a new stake in shares of Palantir Technologies in the 3rd quarter valued at about $35,000. Truvestments Capital LLC acquired a new stake in Palantir Technologies during the 2nd quarter worth approximately $41,000. Quadrant Capital Group LLC lifted its position in Palantir Technologies by 39.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,694 shares of the company’s stock worth $43,000 after acquiring an additional 1,324 shares during the period. Finally, Crewe Advisors LLC raised its stake in shares of Palantir Technologies by 316.4% during the 2nd quarter. Crewe Advisors LLC now owns 4,809 shares of the company’s stock worth $44,000 after buying an additional 3,654 shares in the last quarter. 31.90% of the stock is owned by institutional investors and hedge funds.
Palantir Technologies Trading Up 9.7 %
The firm has a market capitalization of $21.03 billion, a PE ratio of -36.11 and a beta of 2.90. The business has a 50-day moving average price of $7.17 and a 200-day moving average price of $7.82.
Palantir Technologies (NYSE:PLTR – Get Rating) last posted its quarterly earnings data on Monday, February 13th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. Palantir Technologies has a negative return on equity of 8.86% and a negative net margin of 30.64%. The business had revenue of $508.62 million for the quarter, compared to analysts’ expectations of $504.84 million. During the same quarter last year, the firm earned $0.02 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. On average, equity research analysts forecast that Palantir Technologies Inc. will post -0.17 earnings per share for the current year.
About Palantir Technologies
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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 facilitating the handoff between analysts and operational users, helping operators plan and execute real-time world responses to threats that have been identified within the platform.
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