Palantir Technologies (NYSE:PLTR) Stock Price Up 0% – Should You Buy?

Palantir Technologies Inc. (NYSE:PLTR)’s stock price traded up 0% on Wednesday . The company traded as high as $67.56 and last traded at $65.75. 22,105,993 shares changed hands during trading, a decline of 62% from the average session volume of 58,676,020 shares. The stock had previously closed at $65.74.

Analysts Set New Price Targets

PLTR has been the subject of several recent research reports. Mizuho raised their target price on shares of Palantir Technologies from $30.00 to $37.00 and gave the company an “underperform” rating in a report on Tuesday, November 5th. Northland Securities raised their price target on shares of Palantir Technologies from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $9.00 price target on shares of Palantir Technologies in a research note on Tuesday, August 6th. The Goldman Sachs Group raised their price target on shares of Palantir Technologies from $16.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Jefferies Financial Group lowered shares of Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective on the stock. in a research note on Thursday, November 7th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.64.

Palantir Technologies Price Performance

The business’s 50-day moving average price is $47.09 and its 200-day moving average price is $34.10. The firm has a market capitalization of $149.76 billion, a PE ratio of 328.77 and a beta of 2.70.

Palantir Technologies (NYSE:PLTR) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.10 EPS for the quarter, beating 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 company had revenue of $725.52 million for the quarter, compared to the consensus estimate of $705.11 million. During the same quarter last year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, analysts anticipate that Palantir Technologies Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity

In other news, insider Alexander C. Karp sold 4,500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.07, for a total value of $162,315,000.00. Following the completion of the sale, the insider now directly owns 6,432,258 shares of the company’s stock, valued at approximately $232,011,546.06. This represents a 41.16 % decrease in their ownership of the stock. The transaction 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 6,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.35, for a total value of $218,100.00. Following the completion of the sale, the director now directly owns 152,280 shares of the company’s stock, valued at $5,535,378. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,167,451 shares of company stock valued at $1,603,067,889. 12.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Palantir Technologies by 96.4% in the third quarter. State Street Corp now owns 82,512,440 shares of the company’s stock worth $3,069,463,000 after acquiring an additional 40,498,024 shares in the last quarter. Geode Capital Management LLC increased its stake in Palantir Technologies by 52.9% during the 3rd quarter. Geode Capital Management LLC now owns 47,946,926 shares of the company’s stock worth $1,777,568,000 after purchasing an additional 16,598,253 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Palantir Technologies by 5.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,982,925 shares of the company’s stock worth $557,365,000 after buying an additional 808,444 shares during the period. ARK Investment Management LLC lifted its stake in Palantir Technologies by 2.2% in the second quarter. ARK Investment Management LLC now owns 13,023,099 shares of the company’s stock valued at $329,875,000 after buying an additional 277,623 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Palantir Technologies by 8.8% in the third quarter. FMR LLC now owns 12,478,281 shares of the company’s stock valued at $464,192,000 after buying an additional 1,004,603 shares during the period. Institutional investors and hedge funds own 45.65% of the company’s stock.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.