Palantir Technologies (NASDAQ:PLTR) Shares Up 2.6% – Time to Buy?

Palantir Technologies Inc. (NASDAQ:PLTR) shares traded up 2.6% on Tuesday . The company traded as high as $68.23 and last traded at $66.67. 27,530,701 shares were traded during trading, a decline of 63% from the average session volume of 74,115,008 shares. The stock had previously closed at $64.98.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Raymond James lowered shares of Palantir Technologies from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. 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 on the stock. Northland Securities raised their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Bank of America boosted their price objective on shares of Palantir Technologies from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Jefferies Financial Group downgraded shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.12.

Palantir Technologies Trading Up 2.0 %

The firm has a market cap of $150.92 billion, a PE ratio of 331.27, a price-to-earnings-growth ratio of 10.18 and a beta of 2.82. The company has a 50-day simple moving average of $69.40 and a 200 day simple moving average of $46.26.

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 net margin of 18.01% and a return on equity of 9.94%. The company had revenue of $725.52 million during the quarter, compared to analysts’ expectations of $705.11 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, equities analysts expect that Palantir Technologies Inc. will post 0.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Ryan D. Taylor sold 123,334 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $5,550,030.00. Following the completion of the sale, the insider now directly owns 331,369 shares in the company, valued at $14,911,605. This represents a 27.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander C. Karp sold 3,337,048 shares of Palantir Technologies stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $45.02, for a total value of $150,233,900.96. Following the transaction, the insider now owns 6,432,258 shares in the company, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. Company insiders own 12.93% of the company’s stock.

Hedge Funds Weigh In On Palantir Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Burney Co. increased its stake in Palantir Technologies by 18.3% during the fourth quarter. Burney Co. now owns 11,885 shares of the company’s stock worth $899,000 after acquiring an additional 1,841 shares during the last quarter. Wolff Wiese Magana LLC grew its position in Palantir Technologies by 230.4% in the 4th quarter. Wolff Wiese Magana LLC now owns 380 shares of the company’s stock valued at $29,000 after acquiring an additional 265 shares in the last quarter. Brendel Financial Advisors LLC grew its holdings in shares of Palantir Technologies by 3.8% in the fourth quarter. Brendel Financial Advisors LLC now owns 10,268 shares of the company’s stock valued at $777,000 after purchasing an additional 373 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Palantir Technologies by 31.2% during the fourth quarter. Park Avenue Securities LLC now owns 168,232 shares of the company’s stock worth $12,723,000 after acquiring an additional 40,011 shares during the period. Finally, Kathmere Capital Management LLC increased its holdings in Palantir Technologies by 150.8% during the 4th quarter. Kathmere Capital Management LLC now owns 18,046 shares of the company’s stock worth $1,365,000 after purchasing an additional 10,851 shares during the period. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Palantir Technologies Company Profile

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.