Palantir Technologies (NASDAQ:PLTR) Trading 3.3% Higher – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s share price rose 3.3% during trading on Wednesday . The stock traded as high as $76.45 and last traded at $75.48. Approximately 26,037,890 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 67,643,836 shares. The stock had previously closed at $73.07.

Analyst Ratings Changes

A number of research firms have weighed in on PLTR. Robert W. Baird assumed 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. William Blair reiterated an “underperform” rating on shares of Palantir Technologies in a research note on Wednesday, December 18th. Mizuho upped their price objective on shares of Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Cantor Fitzgerald began coverage on Palantir Technologies in a research report on Friday, January 17th. They set a “neutral” rating and a $72.00 target price on the stock. Finally, Argus downgraded Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.61.

Palantir Technologies Price Performance

The company’s fifty day moving average price is $71.70 and its two-hundred day moving average price is $48.53. The firm has a market cap of $179.92 billion, a PE ratio of 394.92, a P/E/G ratio of 7.08 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last announced 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. The company had revenue of $725.52 million for the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a return on equity of 9.94% and a net margin of 18.01%. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 EPS. As a group, analysts predict that Palantir Technologies Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Lauren Elaina Friedman Stat sold 8,054 shares of Palantir Technologies stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $50.49, for a total transaction of $406,646.46. Following the completion of the sale, the director now directly owns 130,250 shares in the company, valued at approximately $6,576,322.50. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather A. Planishek sold 20,000 shares of Palantir Technologies stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $49.96, for a total value of $999,200.00. Following the transaction, the insider now directly owns 562,006 shares of the company’s stock, valued at $28,077,819.76. This trade represents a 3.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,518,855 shares of company stock valued at $1,438,682,423 over the last quarter. Company insiders own 12.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Palantir Technologies by 60.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,387,040 shares of the company’s stock valued at $460,798,000 after buying an additional 4,667,955 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of Palantir Technologies during the fourth quarter valued at $876,000. State of Alaska Department of Revenue increased its position in Palantir Technologies by 22.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 370,625 shares of the company’s stock worth $13,786,000 after purchasing an additional 68,945 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Palantir Technologies by 19.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 541,567 shares of the company’s stock valued at $20,146,000 after purchasing an additional 87,062 shares during the last quarter. Finally, Tyler Stone Wealth Management raised its stake in Palantir Technologies by 97.9% in the 3rd quarter. Tyler Stone Wealth Management now owns 202,006 shares of the company’s stock valued at $7,515,000 after purchasing an additional 99,921 shares during the last quarter. 45.65% of the stock is owned by hedge funds and other institutional investors.

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.