Palantir Stock- Palantir Technologies Inc. (NYSE:PLTR) Short Interest Up 37.7% in May
Palantir Technologies Inc. (NYSE:PLTR) was the recipient of a significant growth in short interest in the month of May. As of May 14th, there was short interest totalling 85,270,000 shares, a growth of 37.7% from the April 29th total of 61,940,000 shares. Based on an average daily volume of 67,980,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 6.1% of the company’s shares are sold short.
In related news, insider Stephen Andrew Cohen sold 140,455 shares of the company’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $26.07, for a total value of $3,661,661.85. Following the completion of the sale, the insider now owns 102,533 shares of the company’s stock, valued at $2,673,035.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander D. Moore sold 11,000 shares of the company’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $22.49, for a total transaction of $247,390.00. Following the completion of the sale, the director now directly owns 2,236,249 shares of the company’s stock, valued at approximately $50,293,240.01. The disclosure for this sale can be found here. Insiders sold 6,306,723 shares of company stock valued at $138,644,584 in the last three months. 17.00% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in PLTR. NWK Group Inc. acquired a new position in shares of Palantir Technologies during the 4th quarter worth $25,000. Kathmere Capital Management LLC increased its position in Palantir Technologies by 133.3% during the 4th quarter. Kathmere Capital Management LLC now owns 1,050 shares of the company’s stock worth $25,000 after purchasing an additional 600 shares in the last quarter. Reilly Financial Advisors LLC purchased a new stake in Palantir Technologies during the 4th quarter worth about $26,000. Benjamin F. Edwards & Company Inc. increased its position in Palantir Technologies by 442.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,085 shares of the company’s stock worth $26,000 after purchasing an additional 885 shares in the last quarter. Finally, Toth Financial Advisory Corp purchased a new stake in Palantir Technologies during the 1st quarter worth about $26,000. 15.81% of the stock is owned by institutional investors and hedge funds.
PLTR has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on shares of Palantir Technologies from $17.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, February 17th. They noted that the move was a valuation call. Credit Suisse Group initiated coverage on shares of Palantir Technologies in a research report on Tuesday, March 16th. They issued an “underperform” rating and a $20.00 target price on the stock. The Goldman Sachs Group raised shares of Palantir Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $13.00 to $34.00 in a research report on Wednesday, February 17th. Wolfe Research reduced their price target on shares of Palantir Technologies from $23.00 to $20.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 12th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Palantir Technologies from a “hold” rating to a “sell” rating in a research report on Friday, May 14th. Five research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Palantir Technologies presently has a consensus rating of “Hold” and a consensus price target of $21.44.
Shares of NYSE:PLTR traded up $0.25 during midday trading on Monday, hitting $22.95. 111,845,970 shares of the stock were exchanged, compared to its average volume of 75,537,711. The stock has a market cap of $43.07 billion and a P/E ratio of 120.79. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.11. Palantir Technologies has a twelve month low of $8.90 and a twelve month high of $45.00. The company has a 50 day moving average price of $21.91 and a 200-day moving average price of $25.01.
Palantir Technologies (NYSE:PLTR) last released its quarterly earnings results on Tuesday, May 11th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $341.20 million for the quarter, compared to analyst estimates of $332.22 million. The firm’s revenue was up 48.8% on a year-over-year basis. On average, equities research analysts expect that Palantir Technologies will post 0.08 earnings per share 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 for government operatives in the defense and intelligence sectors, 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.
See Also: Initial Public Offering (IPO)
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