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

Posted by Defense World Staff on Jun 8th, 2023

Palantir Technologies Inc. (NYSE:PLTR – Get Rating) saw unusually large options trading activity on Wednesday. Stock investors bought 517,135 call options on the company. This is an increase of 115% compared to the average volume of 240,889 call options.

Insiders Place Their Bets

In other news, Director Alexander D. Moore sold 21,900 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $7.74, for a total value of $169,506.00. Following the sale, the director now directly owns 1,858,152 shares of the company’s stock, valued at approximately $14,382,096.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Palantir Technologies news, insider Alexander C. Karp sold 325,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $15.40, for a total transaction of $5,005,000.00. Following the completion of the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $99,056,773.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexander D. Moore sold 21,900 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $7.74, for a total transaction of $169,506.00. Following the transaction, the director now owns 1,858,152 shares of the company’s stock, valued at approximately $14,382,096.48. The disclosure for this sale can be found here. Insiders have sold 1,867,874 shares of company stock valued at $26,064,322 over the last ninety days. Company insiders own 13.96% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the business. AlphaCrest Capital Management LLC acquired a new stake in Palantir Technologies in the first quarter worth about $206,000. D.A. Davidson & CO. lifted its stake in Palantir Technologies by 18.6% during the first quarter. D.A. Davidson & CO. now owns 14,579 shares of the company’s stock valued at $200,000 after buying an additional 2,286 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Palantir Technologies during the first quarter valued at about $1,475,000. Cibc World Market Inc. increased its holdings in shares of Palantir Technologies by 38.3% in the 1st quarter. Cibc World Market Inc. now owns 226,834 shares of the company’s stock valued at $3,114,000 after purchasing an additional 62,814 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Palantir Technologies by 71.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,153,018 shares of the company’s stock valued at $15,832,000 after purchasing an additional 482,171 shares during the period. Institutional investors own 31.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on PLTR. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palantir Technologies from $6.00 to $7.00 in a research report on Tuesday, May 9th. Jefferies Financial Group raised their target price on shares of Palantir Technologies from $10.00 to $14.00 in a research note on Monday. Credit Suisse Group restated a “neutral” rating and issued a $11.00 target price on shares of Palantir Technologies in a research note on Wednesday, February 15th. Mizuho raised their price objective on shares of Palantir Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, February 14th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $5.00 price objective on shares of Palantir Technologies in a research note on Thursday, February 23rd. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.88.

Palantir Technologies Price Performance

PLTR stock opened at $14.69 on Thursday. Palantir Technologies has a 1-year low of $5.84 and a 1-year high of $17.16. The firm has a fifty day moving average price of $9.99 and a two-hundred day moving average price of $8.38. The firm has a market cap of $31.11 billion, a price-to-earnings ratio of -113.00, a PEG ratio of 5.36 and a beta of 2.79.

Palantir Technologies Company Profile

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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 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.