Palantir Technologies (NASDAQ:PLTR) Trading 2.5% Higher – Time to Buy?

Shares of Palantir Technologies Inc. (NASDAQ:PLTR) traded up 2.5% on Tuesday . The company traded as high as $188.50 and last traded at $187.75. 41,586,956 shares were traded during mid-day trading, a decline of 48% from the average session volume of 79,264,125 shares. The stock had previously closed at $183.25.

Analysts Set New Price Targets

Several equities research analysts recently commented on PLTR shares. Raymond James Financial reiterated a “market perform” rating on shares of Palantir Technologies in a research report on Tuesday, November 4th. DA Davidson lifted their target price on shares of Palantir Technologies from $170.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Morgan Stanley increased their price target on shares of Palantir Technologies from $155.00 to $205.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Citigroup raised their price objective on shares of Palantir Technologies from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, Wall Street Zen lowered Palantir Technologies from a “buy” rating to a “hold” rating in a research note on Friday, November 28th. Five investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Palantir Technologies presently has an average rating of “Hold” and a consensus price target of $172.28.

Palantir Technologies Trading Up 2.5%

The company has a market cap of $447.49 billion, a price-to-earnings ratio of 447.03, a P/E/G ratio of 7.12 and a beta of 1.49. The stock’s 50 day moving average price is $179.39 and its 200 day moving average price is $164.33.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. Palantir Technologies had a net margin of 28.11% and a return on equity of 15.48%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $0.10 EPS. The business’s quarterly revenue was up 62.8% compared to the same quarter last year. On average, equities analysts expect that Palantir Technologies Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palantir Technologies news, insider Alexander C. Karp sold 359,325 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $163.99, for a total value of $58,925,706.75. Following the completion of the transaction, the insider owned 6,432,258 shares in the company, valued at $1,054,825,989.42. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shyam Sankar sold 149,872 shares of the firm’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $163.99, for a total transaction of $24,577,509.28. Following the sale, the insider directly owned 642,786 shares of the company’s stock, valued at approximately $105,410,476.14. The trade was a 18.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,008,844 shares of company stock worth $164,676,161. 9.23% of the stock is owned by company insiders.

Institutional Trading of Palantir Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Palantir Technologies during the second quarter valued at approximately $3,307,457,000. Kingstone Capital Partners Texas LLC acquired a new position in Palantir Technologies during the 2nd quarter valued at approximately $2,543,888,000. Vanguard Group Inc. grew its position in shares of Palantir Technologies by 4.0% during the third quarter. Vanguard Group Inc. now owns 213,886,270 shares of the company’s stock worth $39,017,133,000 after acquiring an additional 8,168,604 shares during the last quarter. State Street Corp increased its stake in shares of Palantir Technologies by 7.2% in the third quarter. State Street Corp now owns 101,258,899 shares of the company’s stock valued at $18,471,648,000 after purchasing an additional 6,777,771 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Palantir Technologies by 55.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,346,061 shares of the company’s stock valued at $1,126,408,000 after acquiring an additional 4,748,513 shares during the period. Institutional investors own 45.65% of the company’s stock.

About Palantir Technologies

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.