Palantir Technologies (NASDAQ:PLTR) Stock Price Up 2.1% – Should You Buy?

Palantir Technologies Inc. (NASDAQ:PLTR)’s stock price rose 2.1% during mid-day trading on Wednesday . The company traded as high as $84.80 and last traded at $82.38. Approximately 64,983,266 shares changed hands during trading, an increase of 5% from the average daily volume of 61,714,367 shares. The stock had previously closed at $80.69.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PLTR shares. Baird R W raised shares of Palantir Technologies to a “hold” rating in a report on Thursday, December 12th. Mizuho raised their target price on shares of Palantir Technologies from $37.00 to $44.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Bank of America upped their price target on Palantir Technologies from $55.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 25th. Jefferies Financial Group lowered Palantir Technologies from a “hold” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research note on Thursday, November 7th. Finally, William Blair reaffirmed an “underperform” rating on shares of Palantir Technologies in a research report on Wednesday, December 18th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Palantir Technologies presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Palantir Technologies Stock Up 2.1 %

The stock has a market cap of $187.66 billion, a P/E ratio of 411.92, a price-to-earnings-growth ratio of 10.18 and a beta of 2.87. The firm’s 50-day moving average is $60.61 and its two-hundred day moving average is $41.33.

Palantir Technologies (NASDAQ:PLTR) last released its quarterly earnings data on Monday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Palantir Technologies’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. Analysts anticipate that Palantir Technologies Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Transactions at Palantir Technologies

In related news, insider Alexander C. Karp sold 3,337,048 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $45.02, for a total transaction of $150,233,900.96. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $289,580,255.16. The trade was a 34.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 450,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $70.95, for a total value of $31,927,500.00. Following the sale, the insider now owns 592 shares of the company’s stock, valued at approximately $42,002.40. The trade was a 99.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,351,045 shares of company stock worth $1,710,644,202. 12.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Farmers & Merchants Investments Inc. acquired a new position in Palantir Technologies during the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Palantir Technologies during the third quarter valued at about $25,000. Prestige Wealth Management Group LLC lifted its stake in shares of Palantir Technologies by 747.1% in the third quarter. Prestige Wealth Management Group LLC now owns 737 shares of the company’s stock valued at $27,000 after buying an additional 650 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in Palantir Technologies during the second quarter worth about $30,000. Finally, Ashburton Jersey Ltd acquired a new stake in Palantir Technologies during the second quarter worth about $36,000. 45.65% of the stock is currently owned by institutional investors and hedge funds.

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.