Palantir Technologies (NASDAQ:PLTR) Trading 3.3% Higher – Still a Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price shot up 3.3% during trading on Friday . The company traded as high as $71.34 and last traded at $71.52. 22,277,686 shares changed hands during trading, a decline of 68% from the average session volume of 69,519,922 shares. The stock had previously closed at $69.24.

Analyst Ratings Changes

A number of brokerages recently commented on PLTR. DA Davidson increased their price target on Palantir Technologies from $28.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Northland Securities increased their price target on Palantir Technologies from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Baird R W raised Palantir Technologies to a “hold” rating in a research note on Thursday, December 12th. Cantor Fitzgerald began coverage on Palantir Technologies in a research note on Friday. They set a “neutral” rating and a $72.00 price target for the company. Finally, Wedbush increased their price target on Palantir Technologies from $57.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.78.

Palantir Technologies Price Performance

The firm has a fifty day moving average price of $70.49 and a two-hundred day moving average price of $47.17. The stock has a market capitalization of $163.49 billion, a PE ratio of 358.87, a P/E/G ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same period in the prior year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. On average, research analysts expect that Palantir Technologies Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palantir Technologies news, insider Ryan D. Taylor sold 123,334 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $45.00, for a total transaction of $5,550,030.00. Following the sale, the insider now owns 331,369 shares of the company’s stock, valued at approximately $14,911,605. This trade represents a 27.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lauren Elaina Friedman Stat sold 8,054 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total value of $406,646.46. Following the sale, the director now directly owns 130,250 shares in the company, valued at $6,576,322.50. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,642,189 shares of company stock valued at $1,444,232,453 over the last quarter. 12.93% of the stock is owned by corporate insiders.

Institutional Trading of Palantir Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Apeiron RIA LLC bought a new stake in Palantir Technologies during the 4th quarter valued at $244,000. Secure Asset Management LLC bought a new stake in Palantir Technologies during the 4th quarter valued at $511,000. IVC Wealth Advisors LLC bought a new stake in Palantir Technologies during the 4th quarter valued at $248,000. Donoghue Forlines LLC boosted its position in shares of Palantir Technologies by 47.8% in the 4th quarter. Donoghue Forlines LLC now owns 29,461 shares of the company’s stock worth $2,228,000 after purchasing an additional 9,530 shares in the last quarter. Finally, Capital Planning Advisors LLC acquired a new stake in shares of Palantir Technologies in the 4th quarter worth $562,000. Institutional investors own 45.65% of the company’s stock.

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.