Palantir Technologies (NASDAQ:PLTR) Trading Up 2.6% – Should You Buy?

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

Wall Street Analyst Weigh In

PLTR has been the subject of several recent research reports. Mizuho lifted their price target on Palantir Technologies from $37.00 to $44.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 target price for the company. in a report on Thursday, November 7th. Argus downgraded shares of Palantir Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. William Blair restated an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Finally, Northland Securities upped their price objective on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Seven analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Palantir Technologies has an average rating of “Hold” and a consensus target price of $42.12.

Palantir Technologies Stock Up 1.8 %

The company has a 50-day moving average of $69.95 and a 200 day moving average of $46.69. The stock has a market capitalization of $157.95 billion, a PE ratio of 346.70, a PEG ratio of 6.24 and a beta of 2.82.

Palantir Technologies (NASDAQ:PLTR) last released its earnings results on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $725.52 million during the quarter, compared to analyst estimates of $705.11 million. Palantir Technologies had a net margin of 18.01% and a return on equity of 9.94%. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share. As a group, equities analysts predict that Palantir Technologies Inc. will post 0.2 EPS for the current fiscal year.

Insider Buying and Selling at Palantir Technologies

In related news, insider Shyam Sankar sold 5,250,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $70.08, for a total value of $367,920,000.00. Following the completion of the sale, the insider now owns 752,786 shares of the company’s stock, valued at approximately $52,755,242.88. This represents a 87.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lauren Elaina Friedman Stat sold 10,721 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $76.78, for a total transaction of $823,158.38. Following the sale, the director now owns 100,923 shares of the company’s stock, valued at $7,748,867.94. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,642,189 shares of company stock worth $1,444,232,453. Insiders own 12.93% of the company’s stock.

Institutional Trading of Palantir Technologies

Institutional investors have recently added to or reduced their stakes in the stock. RMR Wealth Builders raised its holdings in shares of Palantir Technologies by 2.4% in the 4th quarter. RMR Wealth Builders now owns 7,201 shares of the company’s stock valued at $545,000 after buying an additional 167 shares during the period. Christensen King & Associates Investment Services Inc. increased its stake in Palantir Technologies by 3.0% during the fourth quarter. Christensen King & Associates Investment Services Inc. now owns 5,897 shares of the company’s stock worth $486,000 after purchasing an additional 174 shares during the period. ST Germain D J Co. Inc. lifted its position in shares of Palantir Technologies by 4.4% during the fourth quarter. ST Germain D J Co. Inc. now owns 4,780 shares of the company’s stock worth $362,000 after purchasing an additional 200 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV boosted its stake in shares of Palantir Technologies by 1.2% in the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 19,587 shares of the company’s stock valued at $729,000 after purchasing an additional 235 shares during the period. Finally, Greater Midwest Financial Group LLC grew its holdings in shares of Palantir Technologies by 0.3% in the third quarter. Greater Midwest Financial Group LLC now owns 87,392 shares of the company’s stock valued at $3,251,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds 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.